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Persuading the current residents to move on

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As the official owner and soon-to-be possessor of the property, your goal is to encourage the homeowners to move out without trashing the place or forcing you to evict them. You want the property to be broom-clean and in the same condition it was in when you first inspected it — or better. The key to success in this area is providing the homeowners an easy exit. Following are some suggested perks for assisting the homeowners out the door:

 Offer cash for keys and a nonredemption certificate — a signed agreement that the homeowners promise not to redeem the property.

 Provide a dumpster in which the homeowners can toss anything they don’t want to move.

 Offer to pay for a moving van, or pay a portion of their relocation costs.

 Offer to pay the first month’s rent on a rental unit.

Don’t hand over the cash until you get what you need. I’ve experienced several incidents in which homeowners took cash, agreed to move out, and then stayed put. Chapter 16 offers some additional suggestions along with instructions on how to have homeowners who resist moving out evicted.

Foreclosure Investing For Dummies

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