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The Straight Truth

Lending and life unfiltered

By Jennifer Ready | Mortgage Broker
or Lender in California

Buying a home? Make sure the current renters have been evicted...


So that short sale you have been waiting on for months finally gets bank approval.  Hooray!  The house is a great deal and all it needs is fresh carpet and paint and for the current renters to move out.  You are 28 days into the transaction and your contract says they will be out but wait what is this.  They were evicted with a post it 10 days prior to close? And they are not leaving.
This is a picture of your home dreams blowing up

This is a problem because the renters do not need to leave if they are evicted incorrectly. They have rights, as they should.  If you are a Realtor selling a home never forget about the renters.  They may seem immaterial but they can destroy your sale.  Don't ever assume your client, the seller, has done it correctly. Check out HUD for renter rights   If you are a landlord selling your home please check up on renters rights.  If you are buying a home to live in and it currently has renters check with your Realtor and have them verify that the renters were in fact evicted correctly. Why have a horrible surprise when solid planning can save the day.

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