Rentals in Orlando>Question Details

JennaDeane, Renter in Hudson, FL

Is it possible for one to rent out a bank owned foreclosure?

Asked by JennaDeane, Hudson, FL Wed Jul 31, 2013

Me and my partner are looking to rent a home while in Orlando for the next several years, as we are both in school. Can we rent to buy a bank owned home? We don't want to spend more than $500 a month, school is far too expensive for us to pay for both.

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No. You can not rent from the bank unless you are in the property with an active lease at the time of the foreclosure.
0 votes Thank Flag Link Wed Jul 31, 2013
Short answer no, try renting from an apartment complex. $500 is a very tight budget, and a lease to own situation would have you paying more than market rent anyway. With a lease option there would be a large non-refundable deposit........good luck! =o)

0 votes Thank Flag Link Wed Jul 31, 2013
It's not impossible for you to rent a foreclosed property from a bank but it's highly unlikely in this area of the country. I haven't seen this case except for a tenant who is currently living in the property at the time of foreclosure. And that is usually short lived. Although school is expensive, I don't know if $500/month for living/rent costs in this area is realistic. Good luck with your search!
0 votes Thank Flag Link Wed Jul 31, 2013
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