Home Selling in 33067>Question Details

Anamaria42a, Real Estate Pro in 33415

My landlord is selling the apt on short sale can i get on the cash for keys program? The new landlord wants to raise my rent so I want to leave

Asked by Anamaria42a, 33415 Fri Dec 17, 2010

My landlord made me hide all defects from the house to the new buyer and he left to India, so the realtor advise me to live my deposit which I did and it will be over on dec 23rd, though the closing with the new owner is on the 27th now the new landlord after they gave me their word to write a new lease at the same rent, now they want to raise it on a new lease. I rather leave bu I have nop money for a new rental. Can I ask cash for keys? what are my rights? I have no job at this moment but I have never been late on my payments and I did a lot of improvements to the apt. The new buyer doesnt know there is a crack on the foundation and the realtor doesnt want me to mention it , they are getting really nasty on me.

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Mr_real_estate’s answer
If your lease has not expired the new buyers cannot annul your existing lease. I am also going to assume the property is in foreclosure and therefore your tights will be protected by the Tenants Protection Act of May 2009. To review the rights of tenants living in foreclosed homes and the information in the Tenant Protection Act click the link for more information, http://www.worldclassmemberservices.com/TenantRightsInForecl…
As you will see from reviewing the information the new owner must allow the lease to expire. Do not rewrite your lease if you do not agree with the revised terms. Since the property has not foreclosed the new landlord cannot evict you under no circumstances until the expiration of your existing lease.

If the new owner wants you to move then you can contest this in court. On a personal note I would inform the new buyer of the defects to the property. Since they are both not treating you fairly it is not in your interest to cooperate with anyone. If the buyer pulls out and the property is foreclosed on this may provide you with an opportunity to be compensated for moving expenses. Also, since you are not working it will be difficult for you to secure another rental apartment.
1 vote Thank Flag Link Mon Dec 20, 2010
BEST ANSWER
Dear Ana Maria,

Sorry you are in this situation.

On foreclosure sales (where the bank takes back ownership) you may be able to get "cash for keys" to move out. Probably not available in a Short Sale where a new owner buys it.

If you do not want to pay the new rental amount then you will need to move. I believe you have 30 days to leave but you will need to pay the higher rental amount for those 30 days. If you do not have money to move to a new place then you are at the mercy of the new owner, sorry to say.

Are you in a condo? If so, you should let the condo management firm know about the "crack" you are aware of. If it is an apartment complex then the buyer certainly had a home inspector review the condition. If the buyer chose not to have an inspector verify the condition then the listing agent should disclose the problem.

Good luck!
Alma
1 vote Thank Flag Link Sat Dec 18, 2010
In New Jersey the state Department of Community Affairs has information on tenants rights in short sale and foreclosure situations. Also, a good attorney can help. In my opinion, you should have kept current on your rent payments. I don't know the laws where you are, but I am both a landlord and a realtor here in NJ and I know that, as long as you are current on your rent here, the new owner must honor your existing lease. Even if it is the bank that takes over the property, they cannot force you to leave or increase your rent as long as you, the tenant, are in compliance with the lease. I am pretty sure 'cash for keys' is used by banks when they take back the property and want it vacant. It's illegal here in New Jersey. You really need to talk to a lawyer or some government agency to find out what you should do next.
0 votes Thank Flag Link Sat Dec 18, 2010
Check with your local Realtor Association to see if they can give you some contact information as to who can tell you what tenant rights are in your state. You may want to contact legal aide as well. Good luck.
0 votes Thank Flag Link Fri Dec 17, 2010
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