For Rent in Garner>Question Details

Ben And Karen…, Home Buyer in Garner, NC

If a bank owns the property that is listed for sale, (foreclosure), can you rent the property they have listed for sale?

Asked by Ben And Karen Collette, Garner, NC Mon Apr 2, 2012

We have seen a lot of properties that are foreclosure and are bank owned. It seems that the houses are not moving very fast, so was wanting to see if anyone had any knowledge in regards to this.

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Banks do not usually rent the propeties, they are looking to sale them. If you are looking for a rental or possible lease/purchase you can contact a local Realtor for help. They can search the MLS for rentals as well as homes that have a lease/purchase option. There are also several good rental companies in the area. If you need any assistance I would be happy to help. Gina Hesse 919-616-6546
0 votes Thank Flag Link Mon Apr 2, 2012
Actually we have been looking for a rental. We are in a rental right now but are considering moving and possibly closer to Raleigh due to that is where my husband works and with gas prices the way they are... We know that sometimes even people who have had their home for sale will sometimes rent it out instead of letting it sit empty.
0 votes Thank Flag Link Mon Apr 2, 2012
Banks are not in the property ownership or rental business. In our area banks are not leasing properties and I have not heard that they will in the future.
If you already have a lease and a property is going in to foreclosure (depending on a states laws regarding tenant/landlord rights) you may have an opportunity to continue with an existing lease situation. These are always iffy at best. It is adivisable to work with a reputable property management company when renting to assure you that the property is not going in to foreclosure.
0 votes Thank Flag Link Mon Apr 2, 2012
We know we do not qualify to purchase at this time. No, there was no particular property, just asking in general due to so many of them are listed,
0 votes Thank Flag Link Mon Apr 2, 2012
Most people have trouble getting them to sell them much less rent them, good luck,
0 votes Thank Flag Link Mon Apr 2, 2012
The banks will not rent out a foreclosure. Have you spoken to a lender to determine if you could purchase one? There are several in Garner right now that have signs in the yard and still marketed on sites like Trulia until they close but actually have contracts on them. Are there houses in particular you are referring to?
0 votes Thank Flag Link Mon Apr 2, 2012
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