AgentIndustry News

What to do if a ‘squatter’ is occupying one of your bank-owned properties

It's ultimately up to the bank: Pay the occupant to leave or start eviction
  • Some people are moving into vacant properties claiming to be victims of rental scams and demanding money from the homeowners (usually a bank) to vacate.
  • A team lead in Las Vegas is dealing with what she says is a "squatter" situation; the man moved in on Memorial Day, the day before the house was to go on the market.

We've all heard the sob stories about renters finding homes on Craigslist that weren't actually for rent -- they're scams. Well, what happens when someone moves into one of your listings claiming to have been "had" in this way? Laura Harbison That's the situation Laura Harbison, a team lead with Realty Executives of Southern Nevada, is dealing with right now (and she's dealt with it before). The "squatter" moved in on Memorial Day, just a couple of days after home renovations had finished on the property, Harbison says. She'd planned to list it on the market literally the next day -- Tuesday, May 30 -- but now she'll be waiting a few extra weeks while the eviction process is carried out. Harbison says it's very common for someone illegally squatting in a home -- occupying it without a lease -- to claim they've been scammed by a third party on Craigslist. "In some cases -- it hasn't happened with this one yet, and I don't know if it will -- the banks will offer them mone...