Rental Basics in Phoenix>Question Details

antelolo63, Renter in Phoenix, AZ

Currently looking at a home to rent. Where can I look up info to ensure it is not in foreclosure or short sale?

Asked by antelolo63, Phoenix, AZ Mon Apr 2, 2012

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7
Emmy & Co. (203) 556-1608’s answer
Tax records alone do not let you know if they are a short sale...only if they are already owned by a bank.

There are judicial sites for each site that will let you know if any actions are pending against the owners.

Google your state and judicial system.
Log in to the housing area, and there you can input the address or owner's name and see if any action has been filed against the owner.

Best of luck !
0 votes Thank Flag Link Tue Aug 28, 2012
If you work with a realtor, then they can look up this information very easily. The only way for you to look up this information is to research the Maricopa county recorder's office for a Notice of Trustee Sale. Also you could just ask the landlord if they are making their payments or if the home is in foreclosure. If you are interested in working with a realtor, then please feel free to contact me .

Sincerely,


Sean Heideman, Broker
Position Realty
Office: 480-213-5251
1 vote Thank Flag Link Mon Apr 2, 2012
Your Real estate professional can assist you with that by pulling the tax records and verifying the owner is exactly the owner.

Please call me if I can be of any assistance to you with this or helping you find a rental property.

Have a great day.

Debbie Nieman-Pro
Keller Williams Sonoran Living
602-799-5239

diverdebi@cox.net

http://www.diverdebi.com
0 votes Thank Flag Link Mon Apr 2, 2012
Go to
http://www.maricopa.gov
then put in the address and it will only tell you if there is an auction day.
If the have not had notice of defalt you do not know for sure.
0 votes Thank Flag Link Mon Apr 2, 2012
A very good question. As Brenda points out, checking before hand is a good thing to do, however, things change with the passage of time.

The “Protecting Tenants at Foreclosure Act”, a Federal Law, ensures tenants receive proper notice of rental home foreclosure and protects them from abrupt or improper removal from the home.

Under this Act - Public Law No: 111-22 (S. 896E) (Enacted: May 20,2009) – a new property owner cannot evict a month-to-month tenant for 90 days. When there is a lease in effect the new owner cannot evict until the tenant’s lease ends. With one exception, when the new property owner is going to use the rental property as his or her primary residence, in this case the new owner must give the tenant 90 days notice.

Once the foreclosure is complete and a bank, financial institution, Fannie Mae or Freddie Mac own the property....occupants may be eligible for assistance, such as "Cash for Keys", as inducement to vacate the property. If the property is purchased at trustee sale by a private party, such programs may not be available.

Unfortunately, you may need an attorney to assist you enforcing your rights.
0 votes Thank Flag Link Mon Apr 2, 2012
This is a great question. This is a problem for many tenants in the market right now. Unfortunately many homeowners are renting property that they intend to stop making payments on and an upcoming foreclosure notice will be the result.

We have our clients call us and we check this for them. We don't want anyone to find themselves in this situation. The only problem is that we may check for you and then after you move in the Landlord may receive the notice of foreclosure a month down the road. Once they receive the notice you will have 90 days in the home unless they issue an extension of the foreclosure.

So checking prior to renting is a good thing to do, but this won't guarantee that this won't happen in the future. Unfortunately so many people have found themselves owning a home that is not worth what they owe on it and have good intentions to rent it out until the market return. The problem is that not all people are able to do this. But no one should be told that they will have a long term lease when they truly intend to collect rents while not making the payments only to have tenants left to suffer the consequences. One thing to be concerned with is a Landlord that is willing to rent the home for a very low rent and ask for several months in advance. This is a red flag.

Best Regards,

Brenda

Ron & Brenda Cunningham
West USA Realty
602-980-3133
Ron: 602-499-0694
http://www.CunninghamHomesAZ.com

** Recognized in the Phoenix Business Journal as "One of the Top 50 Realtors in the Valley" **
0 votes Thank Flag Link Mon Apr 2, 2012
Antelo63, that is a great question and you most certainly DO NOT need to work with a realtor to obtain this information. Please visit http://www.aznvc.com/ and register yourself as a tenant for monitoring. They will alert you if a foreclosure notice is filed against the property you are renting. You can also use this web site (without the assistance of a realtor) to check what has sold in your area.

The AZNVC web site is currently down due to technical difficulties, but should be up shortly. I spoke with Lyle @ NetValueCentral who administers the site and he stated that he has notified his IT department and it will be back up shortly. If it is not, you can call him at (623)566-3682.
0 votes Thank Flag Link Mon Apr 2, 2012
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