How do you approach a homeowner that you now have a redeemable tax lien on? This is a question I’ve received several times before and it can be quite tricky.
The first decision I make is if I’m going to approach them at all or not. In normal situations, I typically approach the homeowner. However, if I feel like it’s a high-end situation with a ton of value in the property, and they’re the kind of person that could redeem the property easily, then usually I would NOT approach them.
In the circumstances where I do approach them, the very first conversation I have with them is that they can stay in the property and explain how.
I go into the conversation as their advocate, not as their adversary, and I give them a few options:
– If they don’t work with me: I go to the court, file an eviction (which we will win because we now own the property), and then the sheriff will come and put all their belongings (clothes, furniture, etc) out on the street, and they will have to walk away from this with nothing
– If they let me help them: We can get through this situation together and I explain that they will walk away with money in their pocket, their dignity, and move out at a time when they’re
ready. I offer them cash, help with moving, and moving assistance.
Many are psychologically damaged and don’t want to clean their property which seems so overwhelming, so I tell them we’ll help them clean up, keep the things that are theirs and we’ll clean up the property and take care of it.
We have rented to several homeowners over the years too. In these cases, we still always put some rehab work into the property because we always treat everyone with decency and respect and you have to put people in livable conditions.
Hope this information helps and when you are ready to get started, text “AUCTION” to (909) 344-5272 and we will be right there to assist you!