Selling with prior owners Bought a place at the Trustee Sale. Meet the prior owners. Really nice people, interior is in great condition. The place looks great with their furniture. The prior owners want a month to move out. I am contemplating letting them stay and just list the place for sale and then have them move out at COE. Anyone done this? The good and the bad. Thanks Mer http://www.foreclosureforum.com/board/read.php?2,309,309#msg-309 Wed, 15 Jul 2026 22:08:11 -0700 Phorum 5.2.15a http://www.foreclosureforum.com/board/read.php?2,309,329#msg-329 Re: Selling with prior owners http://www.foreclosureforum.com/board/read.php?2,309,329#msg-329
They impressed me so much I took them under my wing and put them back in the house, which I sold them later for no profit. Plus I taught them how to invest in real estate, they probably own half the town by now. Three old owners were fine, they kept their word, the 5Th old owner however turned into a real problem and was trying every flaky plan he could come up with to reclaim the house and pull out any money he could. I had to rehab it after I got him out, so I never did it again figuring a 20% chance for a problem was not low enough odds to bet on.]]> BTI Foreclosure Forum Sat, 03 Dec 2011 21:25:38 -0800 http://www.foreclosureforum.com/board/read.php?2,309,327#msg-327 I prefer to limit uncertainty whenever possible... http://www.foreclosureforum.com/board/read.php?2,309,327#msg-327
Quote
Mer
Bought a place at the Trustee Sale. Meet the prior owners. Really nice people, interior is in great condition. The place looks great with their furniture. The prior owners want a month to move out. I am contemplating letting them stay and just list the place for sale and then have them move out at COE.

Anyone done this? The good and the bad.

Thanks

Mer

Wow, I'm too risk averse to gamble that they would keep their word. And that uncertainty would make me way too edgy and nervous for the entire time they held over.

So no, I'd get possession of the unit now to avoid the risk and the anxiety that comes with such an extended delay.]]> Ward-CA Foreclosure Forum Sat, 03 Dec 2011 00:09:59 -0800 http://www.foreclosureforum.com/board/read.php?2,309,320#msg-320 Re: Coffee & Do-nots... http://www.foreclosureforum.com/board/read.php?2,309,320#msg-320
In my experience if they go out of their way making it easy for you to sell AND you have a track record of being a good judge of people things should be just fine.]]> BrianH Foreclosure Forum Fri, 02 Dec 2011 17:31:05 -0800 http://www.foreclosureforum.com/board/read.php?2,309,318#msg-318 Coffee & Do-nots... http://www.foreclosureforum.com/board/read.php?2,309,318#msg-318
1.. Everything is great until it's not! This is the wake up and smell the coffee part of my subject line

2. While there are lots of very nice people who have lost their homes thru foreclosure, it never fails to surprise me how bitter and angry people can become when something enters their minds that they've gotten the short end of the stick, despite my bending over backwards to accommodate them.

3. I like to remind people that in actuality, they did not lose their home (as it is still in place on its foundation) but they lost OWNERSHIP!

4. I've done much better by developing policies in advance and not creating them case-by-case. There's always someone or some situation that tempts me to bipass my own policy, but most every time I come to regret it and then I'm disappointed at myself (who knows better).

5. If you do decide to be a nice guy, I'd make sure they already had made irreversible arrangements to move into a specific place on a specific date, and get it in writing. Do I come across as distrustful? Doubtful? You betcha.

6. BTW...I'd considering having one of those remote starter switches installed on my cars after telling former ownersfact #3.]]> Rick Harmon Foreclosure Forum Fri, 02 Dec 2011 10:05:25 -0800 http://www.foreclosureforum.com/board/read.php?2,309,313#msg-313 Re: Selling with prior owners http://www.foreclosureforum.com/board/read.php?2,309,313#msg-313 mikebick Foreclosure Forum Thu, 01 Dec 2011 22:25:17 -0800 http://www.foreclosureforum.com/board/read.php?2,309,310#msg-310 Re: Selling with prior owners http://www.foreclosureforum.com/board/read.php?2,309,310#msg-310 flipit Foreclosure Forum Thu, 01 Dec 2011 22:05:26 -0800 http://www.foreclosureforum.com/board/read.php?2,309,309#msg-309 Selling with prior owners http://www.foreclosureforum.com/board/read.php?2,309,309#msg-309
Anyone done this? The good and the bad.

Thanks

Mer]]> Mer Foreclosure Forum Thu, 01 Dec 2011 20:42:45 -0800