Zillow Advice: Buying Foreclosures - Need advice on buying a FNMA foreclosure in Atlanta that is tenant occupied

The banks usually use Money ...

Fri, 05 Jun 2009 03:49:00 GMT

The banks usually use Money to get them out, and a paper indicating that they will not sue, they are leaving volutarily and so on. Have a lanlord/tenant attorney write the release form.
The reason the government backed (ha,ha) agency will not evict, is if it is the same as some of the funds used to purchase homes with government first time buyer programs is because then they have to take care of the tenants rent, so they will not do that.

Cash for keys is the way to go, and there is no guarantee.
Good Luck.

Las Vegas foreclosures

In general, being nice is ...

Tue, 02 Jun 2009 18:01:00 GMT

In general, being nice is always the best policy. You definitely want to check your areas landlord/tenant laws to be sure you are acting in accordance with the laws. Unfortunately, they almost always favor the tenant. One method that some of my investors have used to encourage a peaceful exit is offering to cover the deposit on a new location. The amount would need to be within reason of course. The will generally put the tenants mind a bit more at ease as between your donation and their deposit refund, they will only have to come up with the regularly scheduled rent payment. Hope this helps. Good luck.