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▷ ▶ Tenant Foreclosure Procedures SelectSmart.com free Business flowcharts and decision trees.
A SelectSmart.com Flowchart by pharohal. See pharohal's 4me blog page.
Viewed 308 times. Created August 2014.
This SelectSmart.com Business flowchart, a free online decision tool is a creation of pharohal and for amusement purposes only. The implicit and explicit opinions expressed here are the author's. SelectSmart.com does not necessarily agree.
BusinessTenant Foreclosure Procedures
By pharohal
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Outlines a process for managing tenants when foreclosing on a property

               
Does financing program allow for units occupied by tenant(s)?
NO
Send correspondence / agreement to Tenant(s) requesting they vacate the property within 60 days. Tenant(s) agree to leave property undamaged and in "broom clean" condition and will receive 2 months rent reimbursement. Must agree to inspections and must notify Invest Atlanta of date they will vacate premises.
Invest Atlanta escrows Tenant(s) rent for the 60 day period. Invest Atlanta inspects unit at 15, 30, 45, and 60 days as needed.
Is the property in good repair and "broom clean" condition?
 


YES




YES

NO


 
Property Management Company engaged to manage property. Tenant(s) notified to direct payment of rents to responsible party.
Invest Atlanta completes final inspection and issues Tenant(s) refund check from escrowed rent payment proceeds. Returns security deposit.
Invest Atlanta deducts repair and cleaning expenses from escrowed rents. Security deposit forfeited.
 









 
 
Invest Atlanta list property for sale.