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Publications
The New Prospectors: Buying Tenant Occupied Foreclosed Property Under The San Francisco Rent Ordinance
San Francisco Apartment Magazine
August 2009
Many economists have described our current economic crisis as the worst since the Great Depression. The foreclosures this country has experienced have resulted in the massive supply of bank owned, foreclosed properties, also known as REOs. Some predict a second or even third wave of foreclosures in our future. Banks were not, and are not, prepared to dispose this number of properties all at one time. As a result, REOs have hit the market at rock bottom prices not seen in a generation or more. Among the REO properties on the market, many will have existing tenants. This article discusses the purchasing of tenant occupied foreclosed property under the San Francisco rent ordinance.
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