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.

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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...