Can't get BPO agent in to see property due to Squatters/non-cooperating tenants
I am having some real big issues lately- My primary focus area of real estate is in the Brooklyn/Queens area in New York. Evictions are expensive and can take between 6 months to a year, if not longer- I have all cash buyers on a lot of properties, where they are willing to purchase the property with the tenants. It is a catch 22 though for the bank, client and I. When BPO time comes, we cannot get access to the property. Has anyone had any luck with tackling this issue? I can give the bank comps, but without access, there is no short sale.
Replies to This Discussion
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Permalink Reply by Kevin - Greenville, SC on
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What exactly are you going to escalate and to who? Offer the Tenant $$$ to leave is about your only solution in my opinion.
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Permalink Reply by Darren Bell on
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I have escalated to managers, escalation dept, etc. offering the tenant money doesnt always work, as a lot of the tenants in this area know they can live there for another year rent free. The banks stance on this is not right. I can show them the same property that sold to investors for the price the buyer is offering. They act is if they are doing me a favor when in fact, im doing one for them
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I don't really see you have any other options if you are unable to obtain the tenants cooperation.
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Permalink Reply by Bryant Tutas on
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This is not the banks problem. Or yours for that matter. It's the sellers problem. I just had this issue and I basically had the seller sign a form giving me permission to enter the property and had him send me the keys. I then sent the tenants a letter letting them know I was coming in on such and such a date. They called when they received the letter and we were able to sort it out.
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Permalink Reply by Laura Marshall on
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I'm in California, and I have done the same thing. We have to post a notice of entry on the front door, with the date and time that we will be entering the property. Ours must be posted at least 24 hours in advance. If I thought there would be a problem, I would most likely call the police department and ask that an officer meet me there. I don't know what the laws are in your state regarding entry, but I'm sure that there is a way for an owner to gain access. I also had a letter from the owner giving me permission to enter on his behalf as his agent.
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We would have no problem doing that- Most of the time they change the locks and we can't gain access
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Again, I can't speak to your state laws, but our landlords are entitled to have a key to the property in order to gain access. Personally, if I thought that were the case, I would also bring a locksmith with me. I would do a lock change at one of the access doors. Our eviction cases can take a while too. Sometimes an attorney letter is enough to get them moving. I had one case where a non-paying tenant refused to move. The owner evicted her, and when they went to court, the judge granted a judgement to the owner for all of the back rent, even though she was in foreclosure. He said the property still belonged to her and was entitled to all of the back rent + late charges and attorney fees. They moved out the day before the sheriff's lockout was scheduled. Sometimes, however, there is just no way around it. If you can't gain access and the owner won't / can't take legal action, then there may be nothing you can do. I hope it works out for you.
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