Foreclosure in Benicia>Question Details

Leslie, Home Owner in Benicia, CA

Hello- my house is scheduled to be sold at auction on Aug. 8th, 2011. Do we have to move out by that date or do I have time after is is sold? Thanks!

Asked by Leslie, Benicia, CA Fri Jul 15, 2011

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3
Rick Dillion’s answer
Perhaps you should try a short sale which could stop the foreclosure process although it is a bit late. it may be worth it.
Rick Dillion, Broker Associate Realty World Silverado in Benicia.
0 votes Thank Flag Link Sat Aug 18, 2012
The odds are very great that the house will NOT be sold at the Austion; very few are.
Which means that it will go back to the bank.
4-6 weeks later, the Bank will list it with a Broker for REO sale.
Figure at least 2-3 weels to sell, 2-3 weeks to be accepted and 45 days for Escrow;
Adding that up, you should not have to move until the middle of November.
When it comes time to move you out, the Realtor should contact you, probably with a 30 day notice. He will offer you some "moving money" which could be $1000 to $3000, to insure a timely move and with no damage to the house and it's contents. You won't get that money until after you move.

Please understand that these figures are just guesses, and could vary; but they are also minimums based on history. The good news, is that you will be contacted; it will not happen that a Sheriff's Deputy shows up on your doorstep one morning with an Eviction.

This is a very stressful time for you, at lot of good people have gone through this, and a lot more will. My heart goes out to you. Bounce back from this, do not let it get to you.

Good luck and may God bless
0 votes Thank Flag Link Sun Jul 24, 2011
You don't have to move out on that exact date. After the auction either and REO broker will be calling you (if the property when back to the bank) or an investor if the investor bought the property at auction. At that point you can speak to them about moving out.
0 votes Thank Flag Link Fri Jul 15, 2011
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