If a tenant is in good standing and paying rent timely, the new owner or bank must allow the tenant to live out the remainder of their lease if the property is 2 or more units. If there is no lease in effect the tenant is allowed a grace period of 90 days before a notice to evict can be filed.
If the tenant is in good standing, paying rent timely, and the property is a single family home and the new owner intends to reside in the property, eviction proceedings cannot be filed for at least 90 days after the completion of sale or transfer of title.
If a property is purchased at the auction, like most eviction proceedings the new owner is not allowed a continuum of eviction from the previous owner since there was a transfer in title. Therefore, it is the responsibility if the successful bidder to evict the tenants or owner. Tenants are protected in the May 2009 laws but not the owner. Removal proceedings against the owner can be filed immediately.
Buy a home after foreclosure expert
In Florida, the bank will take possession of the home as soon as the Certificate of Title has been issued. As a bank foreclosure agent, I usually get the assignment within 48 hours of this time.
Recently, banks have been trying to make the transition as easy as possible by offering the occupants(tenants or owner occupants) compensation for leaving the home in broom swept condition (cash for keys). Depending on the area, this can be from $1,000 to $5,000.
If you have any further questions please call or email.
Forbes Realty of South Florida
West Palm Beach, FL
Due to the high number of evictions, in my area, it takes anywhere from 4-16 weeks to get a date scheduled with law enforcement. Speaking with an attorney who specializes in evictions in your county will get you an exact answer.
RE/MAX Greater Atlanta
CRS, CRB, ABR, MSRE, CDPE, e-PRO, ESQ
Certified Residential Specialist
Certified Real Estate Broker
Accredited Buyers Agent
MS Real Estate and Urban Affairs
Certified Distressed Property Expert
Certified Internet Professional
2050 Roswell Road
Marietta GA 30062
Depends on your states eviction laws. In California its running three to five months because we are backed up. Some banks will offer "cash for keys" first to the occupant as a peaceful resolution. If a third party buys the property at auction they will be responsible for the eviction process.