And thank you for the earlier compliment.
Let's talk about the Foreclosure sale. As it regards the fixed sale date, no, you cannot postpone the sale as a tenant. With regard to the cash for keys, the answer is yes. First, you need to clarify what you mean when you say that you have no lease. In the State of Nevada even without something in writing, the intent of the parties whether through implied contract or oral agreement, or what is referred to as "Constructive" notice (that is, how has the Landlord treated your occupancy). Either way, you have a lease, albeit a month to month.
The bank is required to honor that written or implied contractual relationship and give you up to 90 days to move (remember from my earlier post) as long as you are current with your rent prior to the foreclosure, and remain current during the allowed period. Is it safe to say that since you are still concerned about eviction that you have not stayed current with your rent? Simply put, if you are current, you have nothing to worry about. if you are not current, you need to be more concerned, but not panicky. While it is possible for the bank to issue you a 5 day notice to quit, it is unlikely. Consider first, that they have no evidence one way or the other.
So, how do they find out? they have to contact you, give you time to collect canceled checks, copies of leases, and all while they do not want to have to allow you to live in the home for 90 days (Per law that I talked about in an earlier post). They want this home back as soon as possible, with the least amount of cost. If they were to go the other route, it is going to be very expensive for them to fight your standing in court, and probably lose. it is cheaper and faster for them to simply come to you and offer you a minimum of $500 and upwards of $2000 to move out in 2, 3 or even 4 weeks, but probably by December 31.
So, don't panic. Start looking for a new home (I will help, if you like). If they come to you, don't admit that you don't have a lease or are not current (if that is the case), ask for cash for keys, and don't trash the place. That is the big condition of offering cash for keys.
Best of luck, and as always, thanks for reading.... more
I believe that the 5 day notice to pay is a warning where after the 5 days they will file for eviction. If you are not out of the house by the eviction date they willremove you and your belongings. The best thing to do is to call the property manager directly and talk to them.... more