How to Identify the Property Condition Correctly (10)

Properties that are occupied but inaccessible are also very risky. You may be encountering bitter, unfriendly people who refuse to cooperate and won’t allow you into the house to inspect it before you bid. In such situations, I was able to gain access to the house by sympathizing with the people who reside there.

Sometimes, if the occupants appeared to be taking good care of the property and I intended to rent the property to tenants anyway, I offered them the opportunity to remain there under a new lease with me if I was the high bidder. In the event that you wish to move into the property yourself, or if you do not wish to offer the current occupants a lease for any reason, I found it very effective to offer moving money (dollar compensation also known as “cash for keys”) to pay the costs of moving expenses for the occupants.

Do we just whip out our wallets and pay them? Of course not! We haven’t even gone to the auction yet. We sign an agreement that if we are the successful high bidders, we will pay the occupants after we own the property, after they have removed all of their belongings out, and if the premises are left in broom-clean and good condition. Money is only given to the occupants after they have fulfilled their end of the agreement, moved out, and turned the keys over to you.

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