Re: want to buy house at auction.....has people in it?

Re: want to buy house at auction.....has people in it? by Garry on February 20, 2017 @17:13

I have bought several houses at auction over the years. They were all vacant when they were sold. I would NEVER buy a house at auction if someone is still living there. It does not matter if they are the owners, renters, or squatters that were homeless, and just move in recently to have a roof over their heads. You are buying the house AS IS on the day of the auction. Whoever is living there, already assumes they will have to move out once the place is sold. What happens if the people living there decide to totally DESTROY the place on their way out the door. That's especially true if the people there are the owners, and they are losing their home they have owned for years. They could do tens of thousands of $ of damage to get back at the bank for foreclosing on their home, or YOU for buying their home. Either don't bid on the home, or get a guarantee from the seller that the house will be vacant when you take possession, AND it is in the same condition as the day of the auction. You should probably call up the auctioneer a week before the auction,to find out more about the people living there.

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Re: want to buy house at auction.....has people in it? by Jennifer on February 20, 2017 @18:48	[ Reply ]

Thank you G, your advise is always appreciated, your a true asset to this site!

Re: want to buy house at auction.....has people in it? - Landlord Forum thread 350736