Foreclosure in Tampa>Question Details

Adrian, Renter in Tampa, FL

the house that i am renting is going for auction on Wednesday, what will happen to my family?

Asked by Adrian, Tampa, FL Mon Apr 9, 2012

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If the property is sold at the court house auction, the new owner of the property will contact you either in person or by certified mail. The new owner may be an investor and could be interested in continuing to rent the property. If agreeable terms cannot be reached between you and the current owner, eviction procedures may begin.

On the other hand, the property may NOT sell at the auction and in that case the bank may be contacting you to disclose your options. Depending upon the bank, you may be able to continue renting the home. The bank may also offer you a 'cash for keys' program where you agree to vacate the property in a timely manner (usually 30-days or less) and in return the bank compensates you for leaving the home clean and in good working order.

In any event, have your current lease available and any paid rent receipts/cancelled checks. This is not to be considered legal advice and contacting an attorney to better understand your rights as a tenant is always advised.
1 vote Thank Flag Link Mon Apr 9, 2012
Do you have a valid lease?
0 votes Thank Flag Link Sat Apr 14, 2012
Realtors are not attorneys in Florida, even though Realtors in Calif. might just know everything about Florida Law and wish to practice Law in Florida rather than Real Estate in Calif.

Your best and only answer to your question, is going to come from a Florida Attorney. Maybe a Florida Realtor in Tampa might suggest a Attorney in Tampa for Adrian.

I hope so.

John
0 votes Thank Flag Link Mon Apr 9, 2012
Hello Adrian,

Eek!

Since you are renting, they can not just kick you out but first thing you want to do is make sure that the lien holder knows that you are a tenant.

There should have been mailings & postings (usually to the front door) warning of the NOD (notice of default) and there should be contact info for the lien holder or their agent (usually an attorney).

I would also affix a large and legible sign to the front door of your unit stating that you are a tenant and a contact phone number just in case the new owner has an over-zealous eviction company.

What I have been seeing is that if you have a legitimate lease and are paying market rent, the new owners are keeping the tenants (expect to sign a new lease) and if the new owner doesn't want to keep you they are also offering 'cash for keys' (how much they offer depends on the house and how quickly they want you to move).

Because each state (& even city) has different rules, I suggest that you contact an attorney (or legal aid) in your area and they can give you advice tailored to your specific situation.

Best of luck,
Trevolyn
0 votes Thank Flag Link Mon Apr 9, 2012
my rental agreement expired in January
Flag Mon Apr 9, 2012
So sorry to hear that. The bank should honor your lease or at least give you 90 days notice to find another place.
Good Luck
Lorrie
0 votes Thank Flag Link Mon Apr 9, 2012
Hi Adrian,

You may want to contact the courthouse today.

Immediately.

Good Luck!
0 votes Thank Flag Link Mon Apr 9, 2012
The bank may let you keep renting it until they sell it. You will have to pay rent to the bank and allow showings to prospective buyers. Have you thought about buying a home?
0 votes Thank Flag Link Mon Apr 9, 2012
You should be protected by the terms of your lease.
0 votes Thank Flag Link Mon Apr 9, 2012
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