Foreclosure in 95828>Question Details

bpipes3, Home Owner in Sacramento, CA

I'm in Florida and my home is scheduled for an auction sale June 3, 2013. How many days do I have to move if I wait for the auction sale?

Asked by bpipes3, Sacramento, CA Wed May 29, 2013

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It would depend on what the bank requires.
0 votes Thank Flag Link Wed Oct 23, 2013
It depends, if your home got sold in the auction sale by investors, then likely someone will be in contact with you in regards to arranging your move out, usually within 30-90 days, but if the property doesn't sell and became a foreclosure afterward, then a representative from the bank will likely be in contact with you. They will provide you with a mail letting you know your property is sold to a third party in auction, and they will give a deadline to move out by then.
0 votes Thank Flag Link Wed May 29, 2013
Thank you Anna for this valuable info!
Flag Wed May 29, 2013
Well based on your new information, I'm not sure why two offers were submitted,as most lenders only want 'the best' offer to review and present to the investor....

A couple of hints that the sale date will not happen is if the auction amount is your loan amount (including fees) and not reflective of the market, or if no amount is set for the auction. The only one who can postpone the date is the investor. In most cases, you need to specifically ask the loss mitigation specialist you're speaking to, to request postponement of the sale date. There is no guarantee but it happens more often than you might think.

Good luck to you on your short sale.
0 votes Thank Flag Link Wed May 29, 2013
Thank you Sue for your response. My realtor and the title company have contacted the attorney who is in handling the auction sale and the lender. We are waiting for them to talk to each other and make a decision. I'm in a financial bind and hoping I can stay for one more month. So I thought I would try to find out how long I have if it does go at auction. Looks like it depends... on a lot of things. Thanks again for taking the time to respond.
Flag Wed May 29, 2013
I do live in florida. Not sure why Sacramento came up. I do have 2 contracts (Short Sale) the lender is reviewing but the auction date hasn't been changed. Just trying to find out what my options are. Thank you all for responding so quickly.
0 votes Thank Flag Link Wed May 29, 2013
It will depend on the bank's time frame. Since you know when the auction is, be prepared to move. If someone doesn't purchase it from the auction, then a representative should be in contact with you to offer you cash for keys. They will only give you so much time to move out. Good luck.
0 votes Thank Flag Link Wed May 29, 2013
How many days you have before you have to move is dependent on the lender (if it doesn't sell), or buyer at the courthouse steps. There is no guarantee that you get cash for keys and I, for one, do not promote that you deserve cash for keys if you've lived in the home without paying towards the mortgage for over 4 months. (4 months, or over 111 days which is how long a foreclosure takes, at a minimum).

There are so many options available to distressed homeowners to resolve the circumstances rather than 'walk away' by letting it go to foreclosure. Yes, there are rare circumstances where foreclosure is the only option. But more often, even at this late stage, you can show more responsibility by participating in another option - including the short sale of your home.

A foreclosure hurts YOU the worst, but it also hurts the neighborhood, and all of us taxpayers who are subsidizing the foreclosure losses. Vacancy in a neighborhood hurts all of the surrounding property values. Vacant homes promote crime and vandalism. So I strongly encourage you to find another option if possible, or hand the keys over as soon as you're contacted. It's the right thing to do.
0 votes Thank Flag Link Wed May 29, 2013
Is your house in Florida or are you in Florida? You post shows you are from Sacramento. If your house is in California then the answer would be different then if your house was in Florida. If your house is in Sacramento you should contact me right away since there might be some other options available to you. If your house is in fact in Florida then you should look for help from professionals in Florida since every state has different laws that are applicable.

Ted Greene
Web Reference:
0 votes Thank Flag Link Wed May 29, 2013
This is a REALLY common question. Basically, it depends on which bank is foreclosing on your home and if it gets bought at auction. You may get a notice the very next day that you need to vacate. Or it could be months. You never know.
0 votes Thank Flag Link Wed May 29, 2013
You will have a notice after the sale date , and you could stay in the property until 90 days ..depend of the bank . The bank will offer you Cash for keys ! between $1500 to $5000

just wait for your money
0 votes Thank Flag Link Wed May 29, 2013
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