Rentals in Upland>Question Details

Brandi Johns…, Renter in Upland, CA

How long does an owner have from the time a home is due to be auctioned as short sale, to time they have to vacate their property?

Asked by Brandi Johnson, Upland, CA Sat Oct 6, 2012

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Kari Brandler’s answer
Here is a link to what can happen once your home goes to auction. Once the home is sold you are no longer the leagal owner and will have to vacate. You may get lucky and an investor might buy the home and maybe you can do a lease back.

http://www.foreclosureradar.com/foreclosure-guides/foreclosu…

Good luck,

Kari Brandler

1 Advanced Realty & Appraisal
R.E. License 01751970
Cell: (909) 292-6142
Email: kari.brandler@yahoo.com
Website: http://www.karibrandler.com
0 votes Thank Flag Link Thu Jan 10, 2013
You should have received a notice of sale date and a notice to vacate. Also it depends on what county you reside in as well. Once sold at the auction the new owners will be to speak with you.
0 votes Thank Flag Link Thu Jan 10, 2013
Once the property is sold at the auction, you no longer own it. So technically, you would need to move out the day that the auction happens, because you are no longer the legal and rightful owner.
0 votes Thank Flag Link Thu Jan 10, 2013
Dear Brandi,

The general rule of thumb is 60-90 days to vacate following a foreclosure sale. Not always as simple as that, but followed more often than not. Good luck to you! If I can do anything else for you or if you have any other additional questions, please feel free to contact me. Have a great day!

Diane Wheatley, Broker
diane@moveupproperties.com
(909) 981-5400
0 votes Thank Flag Link Mon Oct 8, 2012
Hi Brandi,

"How long does an owner have from the time a home is due to be auctioned as short sale ...”

As Shanna comments, the process of foreclosure is a different process than a Short Sale; the latter being much like a traditional sale with the exception of requiring the lender's approval.

I'm making the assumption your question is regarding a foreclosure, which has set steps, as follows:


1) Preforeclosure- property has a Notice of Default (NOD) filed against it. 2) Scheduled for Sale - property has a Notice of Trustee Sale (NTS) filed against it. 3) Bank Owned (REO) - property has been sold back to the Bank at a trustee sale, and the bank has not yet resold.

Here are the Preforeclosure, NOD, and NTS numbers for Upland, CA as of August 2012: 139, 168, and 100.

Additionally, the time to foreclose (avg, number of days between the filing of the NOD and the final sale at auction) is 317 Days.

-Steve
0 votes Thank Flag Link Sun Oct 7, 2012
Hi Brandi,

First, an auction and a short sale are two completely different types of sales. An auction means the property has been foreclosed on. A short sale is where the owner attempts to get their lender(s) to accept less money from the sale of their property than what they owe on the house.

I notice you are in the 'Rentals in Upland'. If the property was foreclosed on and you're the owner, your lender should have served you with paperwork on when to vacate. If you are a renter in the proeperty, it would depend on if you are a month to month renter or have a lease and also on how long you have been a renter.

Shanna Rogers
SR Realty
http://www.RealtyBySR.com
0 votes Thank Flag Link Sat Oct 6, 2012
Usually it's 90 days. For more information please call me at 323-833-1974
0 votes Thank Flag Link Sat Oct 6, 2012
Hi Brandi,

Every scenario is different, and it will depend if the home sells at the auction or not?

Please feel free to call me and I can explain everything to you in greater detail.



Craig Chastain
Realtor/Owner
Next Level Realty
909.243.4251
sellyourhomewithcraig@yahoo.com
0 votes Thank Flag Link Sat Oct 6, 2012
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