What is an occupied property?
- An occupied property is an asset that is currently occupied by the existing mortgagor or tenant. The property is not eligible for financing options. It must be purchased with all cash or with a hard money loan.
Who buys occupied properties and why?
- Occupied properties are purchased by investors who know and understand the marketplace. For this type of asset, the buyer is responsible for evictions and/or maintaining any existing leases. These assets typically have immediate income potential.
On an occupied property, why is your website notated with “Property may be Occupied – Do Not Disturb Occupants?”
- These are assets where there may be an existing mortgagor or tenant. Entering such properties would be considered trespassing and is a criminal offense.