Flipping property can be a very profitable. However, there are several issues that may need to be addressed when you purchase a foreclosure property. One of the most sensitive issues you may need to
address is the eviction of the former owner. This must be handled in a legal and professional matter, or you could find yourself facing a lot of trouble.
Real Estate Investors Face 15 Years In Prison
The Queens County District Attorney started prosecution to illegal evictions on April 7, 2015. In the statement, the District Attorney stated that two men were being charged with illegally evicting a person from a home they purchased in a foreclosure sale.
After winning a real estate auction bid from Queens County Supreme Court, the two men proceeded to the property and told the person living inside that he must leave the premises and give them the keys to the house. They did not provide any proof to the resident that they had purchased the property, and in actuality did not officially own the home because the closing had not taken place on the home.
They informed the resident that they would return in two days and that he better be gone. Upon their return, they discovered the man still in the home. One of the investor gave the man $200 to find a place and told him he could grab a few things, but had to leave. They then boarded up the windows and doors on the main floor so the man could not return to get his possessions.
The Queens County District Attorney is charging both of the men with second degree burglary and criminal trespass, third degree criminal mischief and unlawful eviction. Both men face up to 15 years in prison if convicted.
We Are Here To Help
We understand that buying a foreclosed property could be profitable. We also understand that there are many regulations and laws to follow concerning this type of purchase. We offer a complete and professional service that can help you locate a foreclosure property and make sure that you understand all of the rules and regulations surrounding the process. We even offer professional eviction services so that you will avoid making the same mistakes as those investors who are now facing jail sentences.