Foreclosure in 92081>Question Details

Amordmas, Renter in Vista, CA

how do i know till when the landlord is still a owner?

Asked by Amordmas, Vista, CA Mon Nov 14, 2011

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Most real estate agents can access foreclosure information for you. Even before the foreclosure, an auction date can be determined. Auctions are often postponed, so you'll have to have someone keep an eye on it for you.

If no one buys the home at the auction, it will go back to the bank. In this case, as a Tenant, you will have 90 days to move, but will most likely be offered a "Cash for Keys " settlement to move out sooner. This can be a substantial amount of money to help facilitate your move. A real estate agent, representing the bank (new owner) will contact you. It is in your best interest to talk to the agent as they will be negotiating the Cash for Keys for you. .

If the home is purchased at the auction, you still have some rights as a tenant, but will most likely not be offered a cash incentive to move out.

Once the sale takes place, your landlord no longer owns the property. Do not continue paying the rent. (ask a real estate agent to look this up for you to be sure)

Start packing, but don't panic. You have some time.

Best of luck to you ~ Allison
PS; if you send me the address to NoDumbQuestion@gmail.com I'll look up the sale date for you.
0 votes Thank Flag Link Mon Nov 14, 2011
The current landlord may no longer be the owner if they sell the house in a standard market sale, short sale, or via a quit claim deed. They may also lose the house to foreclosure at the trustees sale or voluntarily with a deed in lieu of foreclosure.
Since your question is from 2011, how did things work out for you and what did you find as the best way to get notified of the transfer of ownership?
0 votes Thank Flag Link Thu Jan 2, 2014
County recorders office, Notice of Defaults (NOD's)
0 votes Thank Flag Link Tue Nov 15, 2011
Hi, Pls check the county court house records and ask the REO agent and the bank for some documentation. U have tenants rights. Maureen 760 622 6855 maureen@bellrealtygroup.com
Web Reference: http://www.coastal.biz
0 votes Thank Flag Link Mon Nov 14, 2011
One way is to check the county tax records. This is public information, and will let you know who the legal owner of the property is.
Here is some good information for you to find out: http://arcc.co.san-diego.ca.us/services/property_records.aspx
Web Reference: http://www.beachside360.com
0 votes Thank Flag Link Mon Nov 14, 2011
What you should be most concerned about is whether you are renting, month-to-month, or have a LEASE:
If you have a Lease, you are safe and secure until the lease runs out.
According to the Tenant's Rights Bill that President Obama pushed thru; the new owners, whether it is the Bank, or a New Owner, you have the right to stay until your lease expires.

If you are renting, you should be visited by an Agent for the Bank, after the Foreclosure, who will offer you Cash-for-Keys and 30 days to move.

You will not be visited by a Sheriff. Your will be given 3 days to move. You will not be evicted.
You might want to research this on Google.

Good luck and may God bless
0 votes Thank Flag Link Mon Nov 14, 2011
If the lender hasn't taken full possession, the landlord is still the owner; check local public records as well; do consider searching for a new home...
0 votes Thank Flag Link Mon Nov 14, 2011
You will receive notice in writing advising you of the new owner and the method for you to make rent payments. Also, you can always check with your local county courthouse where deeds are recorded.
0 votes Thank Flag Link Mon Nov 14, 2011
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