renting and house foreclosure

[Straight6Jeff]

I have a question about what happens to the renters when a house goes to auction. Do the tennants et evicted immediately if the new buyer sees fit, or is there a grace period?



The reason I ask is that I am in that boat. Seems that my landlord saw fit not to pay the mortgage for 9 months, and the house is on the auction block Oct 2. WIll I have to be out that day, or will ther ebe a grace period?



Oh yeah, This really bites, seeing as how I just moved in there a couple of months ago.

 

[Rotty]

Could you bid on the house yourself?? Then you have to only reply to yourself.

I would at least try to find out who the new owner is going to be and talk to them. You could probably secure a short/long term grace period. The new owners may also want to rent out the house?

Good luck. The laws vary from state to state. What type on contract did you sign with the old owner?

Probably the short quick answer is: "your screwed!"

Good luck.

 

[Straight6Jeff]

I could not afford to buy the house. The housing market around Boston is insane. The house will probably go for around 400K, and it was built in 1908, needs a ton of work.



I did not sign a lease. I figure i'm porked.

 

[BarryG]

I would definitely check into the local eviction laws. It is not easy to legally throw somebody out of your house. It takes time I have had to deal with it on a personal level on a rental property trying to get rid of someone and at work one of my functions is to manage a warehouse that we rent some of the bays out. They generally move out before the actual eviction takes place. They must serve you with papers and each set has a time frame. I believe by the time it is all said and done they end up getting 60-90 days. And that is if the landlord wants to go down that road. Joe lawyer gets money for each set of papers, filing fees etc so it usually behooves the landlord to suck it up and work with the tenant to get them out. I have never had to go all the way through the process most I have ever had to do is serve the first set of papers. You might want to attend the auction and meet the new owner and let him know you are living there by the previous owner agreement. He may not even know someone is living there. He may be glad to have a tenant then again he may not and ask you to leave. If he wants you to vacate negotiate with him on the time frame. Check out the eviction laws in your area. They will at least let you know what he will have to go through and how much time you can expect if he chooses to go that route and you can use that info in your negotiation if need be. You can probably find the local laws on the web

 

[wyosteve]

Also depends on whether the original owner has a right of redemption. If so, then the buyer at foreclosure doesn't get actual ownership until the redemption period expires.

 

[B.G. Smith]

Ousted

Yeah, you will need to see what the local/state laws are. I sold a house a few years ago and the lady owner passed away, her doughter stayed in the house with no payments for a year before she left and I had a lawyer. It's hard to evict, at least here. bg

 

[The patriot]

Jeff, details on who is responsible for what happens to you should be stated somewhere in the ad for the house for sale, I would think. ?

I think the laws would vary from state to state, and even down to county and city ordinances.

B. G. Smith, I had to evict a tennant for failure to pay the rent. I had her (and the whole boon bag family) out in 6 weeks.

Sometimes lawyers kick a$$.

Eric

 

[illflem]

I know in Montana you have 30 days to get out after the sheriff serves eviction notice.

 

[daveshoe]

Do some research

First thing is to check with your local housing authority. In my state they call it Metropolatin Housing Authority. Each county has one. This is under HUD program. Get a free copy of "landlord /tenant law handbook'' or whatever they call it in your state. Easy to understand what your rights and duties are.

Another thing to do is remember that a bank is involved in this and could be to your advantage. The bank is probably going to "buy '' this house at the auction because if the house sells too cheaply it is an immediate loss to the bank and it can mess up their loan loss ratio.

Use this opprotunity to save up your rent plus deposit for your next place because your landlord probably wont pay your deposit back. You may be able to sue him and win , but a deadbeat is hard to collect from. You can always stretch this out to the limit, -- try to use up all the time you can. Remember that an eviction is a trial and you have a right to have it go to trial if you so choose. Your position is that it is difficult to move because the landlord has your deposit and it is difficult to save up for another one so quickly after being in your house only a couple of months.

Before you do any of this make sure that it won't mess up your credit rating. I don't think that an eviction per se will affect it so long as you don't get a judgement against you. A judgement is a money award [against you] from the court that could be assigned to a collection agent and reported to a credit bureau if you don't pay it immediately In any case, if you decide to go to trial in order to get your case heard, GET AND SAVE A COPY OF THE TRIAL-- THIS WILL PROVE THAT IT IS YOUR LANDLORD AND NOT YOU THAT WAS THE CAUSE OF YOUR EVICTION. You can then prove to your new landlord, loan officer, credit reporting agency,ect. the unusual reason for your eviction.

I am a landlord myself and I rented a house recently to a couple with your exact problem. Human services actually gave them $750. 00 to help with my required deposit so they could get out of their old residence . BTW the bank that bought back the place is 1500 miles from here .

REMEMBER check out all this stuff because a couple months free rent could be yours for the taking but DON'T MESS UP YOUR CREDIT RATING . It could cost you much more when you take out a loan in the future than what you save by saving a couple months rent. Let us know how it turns out.