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Silver Trusted Contributor
GEAH
Posts: 931
Registered: ‎10-22-2010
0

Headache For Sale!

http://www.redfin.com/CA/Glendale/2151-El-Arbolita-Dr-91208/home/7143389

 Buyer is aware that property may be currently occupied. Seller may not be able to convey possession at closing. CASH ONLY. NO INSPECTIONS ARE PREMITTED. Eviction proceedings may have begun. Interior/exterior conditions are unknown by listing agent as access has never been gained.

Gold Regular Contributor
sheriff
Posts: 2,320
Registered: ‎06-01-2012
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Re: Headache For Sale!

I am not from LA, but doesn't a tenant have to allow you to inspect a property with 24 hours notice?  Who would buy a property under such terms?

Regular Contributor
lonestager
Posts: 66
Registered: ‎07-06-2011
0

Re: Headache For Sale!

These situations are fairly common, except the listing agent is usually not so public about the situation. Tenants are probably looking for key money from an interested buyer- essentially holding the property hostage for ransom. If the property goes to auction (sounds imminent), the successful bidder can choose to get friendly with the tenant in hopes of a fast possession with little extra property destruction, or wait for sheriff to evict and almost guarantee property sabotage.  I know of scenarios where flippers give key money but the kitchen is still ripped out.......

Regular Contributor
lonestager
Posts: 66
Registered: ‎07-06-2011
0

Re: Headache For Sale!

Looking again at the history, someone bought this at auction last October and has not been able to gain possession. Tenants must be super-glued in there!