Sub2 Risk Prevention
For the Sub2 gurus...
How do you prevent or protect yourself from an owner/seller from not vacating the house? i.e. You take a house Sub2 and bring the property up to date but the seller does not move out.
How do you prevent that?
Thank you for your help in advance.
RVA
RVATX,
Glad to meet you.
You have the cash they have the keys, you do not give them the cash until they are moved out and give you the keys.
John $Cash$ Locke
Its not really a sub2 situation but here's a great story (though I didn't think so at the time). So we are renovating this apt. building in Chicago. A real slum. Has a few tenants in the building and we need them to get out if possible if only because they are the kind of people willing to live in a slum and therefore we don't want them in the nice building we are going to have when we are done (they were also in the way of the construction).
So we finally get down to one family (woman, boy friend, her infant child) and we get them to accept moving money and get out. So one of my guys shows up with the moving money check and they say its got to be cash. He calls me on the cell phone, I tell him to take them to the currency exchange and they'll cash the check.
So they're out, right? I call my construction foreman on his cell phone and tell him to go board up the door to the building so they can't get back in.
Meanwhile they are giving my guy in the car so much grief that they are driving him nuts. This is the saturday night before mother's day and he just wants to get home to his wife and take her out to dinner. Finally he throws them out of the car about a block from the currency exchange, says "go cash the check yourself" and drives off.
They turn around, walk the mile back to the building break in and move back into the apartment (moving for these people consists of a bag of clothes, they just abandoned everything else in the apartment).
Meanwhile, her brother, a real no-goodnick doesn't get word that they've moved back into the building. So he torches the place that night in some sort of twisted revenge move to try to get back at us because we are cleaning up a building in his neighborhood making it more difficult for low-lives like himself to hang out there. The boyfriend jumps out of a third floor window and breaks his back ends up in a wheel chair the rest of his life. The infant daughter dies and the mother spends weeks in the hospital recovering from smoke inhalation.
I'm the prime suspect in an arson investigation (after all its my building), made the 6 o'clock news on every tv station in town. and get sued for $10 million.
So RVA, you can't prevent it. You can, via the method John suggests reduce the chances. Risk is part of this business. The more and bigger deals you do the bigger the risks and, sometimes, the bigger the rewards. But either way the bigger the risk the more adrenalin and the better the stories.
What a story commercialking! Point well taken.
Thank you John for your help!
RVA
WOW....That's the "Best" and the "Worst", and the "Funniest" and the Saddest" story i've ever heard......
I wish I had your temperment.
Rvatx:
You bought sub 2. He/she/they have no lease...no rights at all to property. Call police and have them arrested for tresspassing. Besides, it should have been stated in the contract (sale) when they were to leave...usually posession. Hey, i'm not saying to do anything illegal or anything but I believe that the police have an obligation to check out and enforce the law with regards to drug dealers. Maybe even call the FBI due to the fact that you overherd some form of plot!!! If all else fails...turn off utilities for a few days.... it's your property.
Kerry
[addsig]
Littlefoo,
Glad to meet you.
But with the advice you are giving I am wondering who is messing with drugs.
You have just giving advice that is not the way things are done, this person was asking for some sensible help, if you try your method you are the one who will wind up in jail for falsifying a police report should you try these illegal tactics.
You just don't call the police and tell them to remove someone from a house, there is a legal eviction proceedure you must go through, even if it is the sellers of the house and they have not vacated after the sale to you.
John $Cash$ Locke
You know john I was wondering the same thing. I thought there would be still an eviction process.
Commercialking,
What a story! If you don't mind me asking...did you win the case? I have heard more than 80 percent of lawyers in the whole world are in U.S. People sue each other everyday...over $$$. You know...like the lady who sued McDonald years ago.