rgonzalez5150, Other/Just Looking in Sacramento, CA

we have been evicted due to owner foreclosure.its up for sale.if the new owners are renting it i would like to be notified ASAP!

Asked by rgonzalez5150, Sacramento, CA Sun Oct 2, 2011

is it possible to rerent the house if the new owners are not going to live in the house?

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Sue Archer Reynolds’ answer
I think we've discussed part of these circumstances with you before?

They can't 'evict' you if the current owners are in foreclosure, however they can terminate your lease with the proper notifications. If they are doing a short sale while in the foreclosure process, you can notify the listing agent that you would like to be considered as a tenant if the new buyers are going to be renting the property. However, a short sale can take quite a bit of time, where will you be living during that interim?

The same with the home if it goes to foreclosure. There will be quite a time delay in turning it around, putting it back on the market, closing the escrow with the new buyer....
Web Reference: http://www.suearcher.com
0 votes Thank Flag Link Tue Oct 4, 2011
Dear RJ, Dave and Lisa are right, it could be awhile before it comes back on the market; however, me being an REO agent in the Sacramento region, recently I've expirenced foreclosed homes (REOs) coming back on the market as quickly as one month. Remember, a foreclosed home is usually owned by a bank, and they usually have no interest in becoming a landlord. What will more than likely happen will be this; the home gets foreclosed on, the bank hires an REO agent, such as myself to check occupancy on the property, bank will ask the REO agent to list (sell) the property (asset), the property will sell, the new owner (not the bank who foreclosed) will either occupy the property themselves or rent it our. I hope my explanation helps. ~dan

Best wishes,
Dan & Tish Abraham http://www.DanAndTish.com
0 votes Thank Flag Link Mon Oct 3, 2011
HI RG. It's hard to know just when someone will be able to purchase a foreclosure sometimes it's as logn as 6months before it's up for sale, in NJ anyway. We've seen them come right on the market but not often.
Best thing you can do is keep an eye on it. and perhaps send a letter to the address from time to time stating you'd like to rent.

All the Best
Dave & Lisa
Web Reference: http://www.urhomerealty.net
0 votes Thank Flag Link Sun Oct 2, 2011
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