Foreclosure in Sacramento>Question Details

Sethyocebella, Renter in

The home I rent was sold at an auction how long can I live there if the new buyer want to rent it out?

Asked by Sethyocebella, Thu Feb 7, 2013

The home I live in was sold at an auction and bought by a private company. A few days later a letter was posted on my door from a different business that is managing the property saying they want to continue renting it to me. I already has all month of Februrary paid and also I had a month worth of deposit put not the home. So here are my questions. Can I use that toward tha new agreement and negotiate to start a lease beginning April rather since I already have February plus one month I paid and will not see my money back.
How Long can I delay contacting them and how can I verify the new owner actually owns the home or better yet how this property management actually has the right t rent it to me?
Thanks so much!!

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Answers

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I would be happy to look up public information for you to confirm you are contacting the new owners. Feel free to send any property info to eddie@bhrparkplace.com or call 530 320 3032 DRE#01324382.
0 votes Thank Flag Link Thu Mar 21, 2013
Hello

You should contact them asap and explain exactly what you are explaining here. They most likely will start you out on a new lease agreement and may consider your deposit. You won't know until you contact them. In addition, if you enjoy where you are currently renting, you may miss out on an opportunity to stay if you delay. They typically lower the incentive the longer you remain without commiting to a new rntal agreement.

You are wise in requesting info to ensure they actually are the new owners and have the right to enter into a new lease contract with you. It usually takes up to 15 days for county records to update wiht the name of a new owner. If it has been longer than 15 days, you can verify that through public records or ask a real estate agent who has access to those records to assist you in verifying that information. In addition to public records, the individuals presenting themselves as the new owners should also be able to provide you with verification that they are the new owners or representing the new owners upon request.

Finally, a bit of new real estate law that may pertain to your situation. This year, Assembly Bill 2610 modifies existing state law which was to expire 1/1/2013. Existing law requires a tenant of a property posted with a Notice of Sale (NOS) to be given a notice that the new owner after the foreclosure sale date may enter into a new lease or rental agreement or must be given a minimum 60 day notice to terminate. Effective 3/13/2013, the new owner is required to give a tenant in a foreclosed property a minimum 90 day notice after the sale to terminate. The effective date of the new law may need to be extended as it cannot be earlier than 60 days after the California Department of Consumer Affairs posts the notice requirements on their website. The 90 day notice requirement is consistent with the existing federal law which is scheduled to expire 12 /31/2014. This new law shall remain in effect until 12/31/2019.

Hope that helps, contact them today!

Keisha Mathews, REALTOR®
CDPE®, HRC®, HAFA® Certified
"The Short Sale Lady"
Century 21 Landmark Network
(916) 370-1803 cell/direct
(916) 405-3886 fax
keisha.mathews@century21.com
http://www.SheSoldItForMe.com
lic#: 01439130
0 votes Thank Flag Link Thu Feb 7, 2013
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