during the "eviction/cfk" stage and actually receiving the listing?

I have a property in the prelist stage (cfk just expired and the eviction proceeding has started). The occupants are tenants. The occupants contacted an attorney to represent them in the eviction proceeding and contacted me because they want to purchase the property.

Has anyone had any success with entering a contract with a buyer at this prelist stage?

I am thinking of possible negotiating a price with the attorney and getting a prequal letter for the mortgage and then contacting my client. Don't know if this is correct but would appreciate contact with others who have tried or successfully done a deal during this stage.

You can PM.

Additionally, I will have a signed contract with the buyer before I talk to my client.

The occupants do not want to move out and then come back and try to purchase the house in 30-60 days.

When still with my previous sponsor I had an REO assigned that was still occupied. Usual ritual: CFK offer, exterior BPO pending eviction and access, etc. The occupant had my name from the CFK info and passed it on to his brother who contacted me wanting to buy the property. The asset manager said if I could gain access for a full (including repair estimates) interior BPO so they could price the property they would consider it. Arrangements for access were made, a value established, a listing contract written (they would not pay commission without one, though it never hit MLS), a contract written (cash, no need for an appraiser access), and the property was sold (including paying my commission on both list and sale) and the occupant did not have to move. I have no idea how the brothers have left it between themselves; maybe as a rental, maybe a life use deed. I guess that's none of my business anyway!

Almost every tenant I've talked to claims they want to buy the house. Unfortunately, none of them have any money to do so!

Hope you have better luck Papa Lou but, for me, it's been a last ditch effort on their part so they don't have to move.

Papa Lou, I did a purchase during eviction a few months back. It took a few months of dealing with the Buyer's attorney and the Asset Management company, but it did close and I got both sides!! I don't think this is very common so everyone involved was a little confused as to the process, but it does happen.

I just contacted management at my client's office via email and gave them the situation. The only reason I am inclined to possibly move on this is because they have an attorney involved. Also they are willing to get the prequal letter for a mortgage (so they say). The eviction process will not be compromised because the buyers are represented by an attorney and he will file an answer to the complaint to preserve the buyer's interest during the eviction process; thus plaintiff or defendant's rights will not be compromised during any purchase contract negotiations. My client's attorney is involved too.

The point?

I do not believe that this is a "tenant" saying they want to buy the house just to avoid moving out. If my client is willing to entertain a written purchase contract and a pre-approval letter from a letter that I will assist in obtaining then I am going for it.

I need to find out now, whether Homeq is interested in proceeding. Also I know before I do anything, I will get me a signed listing contract/agreement between Homeq and I on this particular property so I can be paid commission!!!