Squatters – House #54

We closed on House #54 a couple weeks ago.  Earlier last week we got a call from the listing agent.  She told us that the next door neighbor called and 3 people where moving into the house and climbed in through one of the windows to unlock the doors.  By the time I got the the property we met two police cars, code enforcement and some city contractors that where “securing” the property at our expense.

Fine, we figured, we cannot win them all.  We smoothed things over with the neighbor and told him that we did not rent the house to these people and gave him our contact info.  Three days later the neighbor called and said these same people kicked the door in, he already called the police.  So I raced over there to meet two of my workers and another police car.

Here is where the story gets interesting.  The police officer already asked the people to leave but she said, they claimed they bought the house and produced a three page contract that shows they put $4,000 down.  Luckily, I brought my ownership information and I actually used an escrow company to buy the property.  So they had to leave, fortunately without an eviction.

Not only is this property condemned by the City, I have people who think they bought it and a neighbor that is watching out the window at everything we do.  What a gem of a property, I’m glad we got it cheap!

We want to get it fixed up, rented and occupied as fast as we can, but the only person at the City that can start the process is on vacation until Monday (for two weeks).  Our strategy will probably be to price this one on the lower side so we can get a couple different tenant applications and hopefully get it occupied with good people who will take good care of the house.

Who said real estate was easy?

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One Response to “ Squatters – House #54 ”

  1. Luis Salas says:

    Hi,

    I am a real estate agent in California. We get this all the time: the “professional tenants”. They move in (with a one-page contract that is laughable) just a couple of days before the trustee sale data so when the bank forecloses they can get cash-for-keys.

    A couple of weeks ago, after the borrower lost interest in the short sale we had in progress, the bank foreclose in one of my listings. I went to pick up my sign and at that time the new owner who had bought the property in the court steps that morning showed up.

    We both of called the police and yelled so much at the squatter that he moved out without asking for any money.

    Good guys won this one…

    Luis Salas

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