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Foreclosure in 92078 : Real Estate Advice

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  • Local Info1
  • Home Buying11
  • Home Selling6
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Activity 3
Thu Sep 8, 2016
Rich Reed answered:
If you're now month-to-month and the new owner via short sale intends to occupy the property you might only get a 30 day notice, and it will probably be issued before the escrow closes. If the new owner does not intend to occupy the property, then you might get a 60 day notice.
The owner might offer you a small amount of money instead of evicting you. You will have trouble renting for a long time if you get evicted. Your deposit should be handled in the same way as any termination of tenancy. If the property is foreclosed instead of a short sale then you might get a 90 day notice. It sounds like you have already read about that. A short sale would be in lieu of a foreclosure, that's why the rules could be different.
I am a real estate broker qualified to advise you on California real estate matters, not the law. If you desire legal advice, consult with an attorney.
Best of luck!
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Wed Feb 20, 2013
David Rudd answered:
Hi Sharon,

As a former bank executive, I can tell you there is little you can do to obtain the property until the bank lists it with their chosen agent (typically contracted for geographic areas).

Banks have created systems that meet legal and regulatory requirements. They do not "skip" steps (anymore) to get a property to market faster. In addition, they want the most offers (most money) for their asset as possible.

You can create a research request to receive an email as soon as the property does come on the market.

Hope this helps!

David Rudd
ca dre# 01402946
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Sat Feb 7, 2009
Brian Richard answered:
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