12-26-2012 05:12 PM
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.
12-29-2012 05:51 AM
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.......