Foreclosure in Detroit>Question Details

Ilse, Home Seller in Detroit, MI

How long to vacate after short sale in MI?

Asked by Ilse, Detroit, MI Tue Oct 28, 2008

We are currently renting a home (from my in-laws, no written lease) that has been put up for short sale. It is in foreclosure with the sheriff's auction on 11/6. I know in Michigan we can stay in the house for 6 months after the sheriff's sale, but how long do we have before we have to get out if the house is sold through the short sale?

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If the short sale is accepted it depends on what they buyer and seller have agreed to. usually the property is to be vacant at closing as teh buyer will be moving in upon closing, unless they are buying it as an investment, it is very rare for tenants to remain in a house as of the closing date. if it does go through the foreclosure sale. the bank will be willing to pay you to vacate the property and leave it in clean condition prior to the 6 months, it is called cash for keys. try and get some money to assist you in moving, they usually offer $1000.
Web Reference: http://www.ScottSellsNH.com
1 vote Thank Flag Link Tue Oct 28, 2008
Depends on what is written in the contract. Typically the buyer will want you out at close in a short sale as they would have to evict you after if you do not get out on time.
Web Reference: http://miOaklandCounty.com
1 vote Thank Flag Link Tue Oct 28, 2008
Maureen Fran…, Real Estate Pro in Birmingham, MI
MVP'08
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