Assurance That Previous Owners Will Leave

kaschlegel profile photo

Hello,
I've been watching the tax lien properties in my area for awhile and I'm ready to start bidding on something. My last major concern is that I will buy a property and be unable to get the previous owners or renters out of it without a problem. If these people are losing everything and getting kicked out of their home, what's to stop them from setting fire to the place on their way out the door? As a new auction purchase I wouldnt have the insurance to cover it. Do I need to wait until i've gotten insurance to start the process of making them leave??? Any information on this would be appreciated. - confused

Comments(2)

  • RonaldStarr18th January, 2004

    kaschlegel--(FL)-------------

    It is a good idea to have fire insurance on the property as soon as you actually have a deed to it.

    What you say can happen. It is not common, however.

    Understand that most properties on tax sales are vacant land, so there is nothing to burn down.

    If you buy a property with a structure on it, it is likely to be vacant. If it is occupied, you should talk in a friendly manner with the occupants about leaving. You might even pay for a moving van and first months rent at an apartment for them. However, never give them money directly.

    I have even rented to a the occupants of some of the houses I have gotten at the OK tax resales. Of course, renting is my aim anyway.

    Good Investing*****Ron Starr************

  • kaschlegel19th January, 2004

    Thanks alot for your reply. That does help.

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