When you buy properties at tax sale auctions you are going to come across a lot of homes that are occupied by tenants or former owners. Although this scares a lot of investors away, we use a strategy called "Cash For Keys" that possibly saves us thousands of dollars each time.
Forcing someone to leave a property will require going through the court system's eviction process in most states. If you've ever dealt with the court system you know that it requires time, money and a lot of paperwork. Most counties aren't willing to invest the effort into evicting occupants prior to auction and have chosen to let the tax sale buyer deal with it at a later date.
Evicting someone can be a very ugly experience. I've heard stories of a home burning down one hour after a tenant receives an eviction notice. I've also seen a sheriff's deputy physically remove an entire family from their property under threat of arrest for trespassing on property they owned only a few days prior.
If you continually fail to take the occupants into consideration and choose to force them out using the court system you'll eventually face some sort of backlash. Even if they decide not to burn down the house, but instead choose to break all the windows with a hammer you could still be out $2,000-$3,000 repairing the windows.
By using Cash For Keys we are attempting to avoid the hassle and possible damage issues that could happen otherwise. Cash For Keys is a process where the investor contacts the occupants to offer them cash for turning over the property without destroying it.
The first step is to contact the occupant of the property. Most of the time you will be able to find a phone number online, but occasionally you'll have to knock on the door. Once you speak to them it's important to be cordial and offer your sympathy for their situation. This tends to build rapport with them. Once this rapport is built explain to them that you represent an investor (even if that investor is yourself) and would like to work out a deal with them so that they can peacefully leave the premises. Offer them a few hundred dollars if they'll leave the property in its' current condition and then set up a time for a walk through a few days later.
Once that time comes be sure to arrive on time, cash in hand. Take the opportunity for them to explain the house to you and tell you about any issues they might have had so you can address them at a later date.
By utilizing Cash For Keys คอนโด กรุงเทพ you will save yourself a lot of headache and grief dealing with the court system and with damaged properties. You'll also save the former occupant the embarrassment of being escorted from the property and you'll be providing him or her with some money to begin their life after losing their home. It's a win-win situation for everyone, which is what it's all about.
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