Hi, our home (Torrance, CA 90502) was up for a Trustee Sale on 10/25/12. Apparently it was sold to the beneficiary. How much longer can i stay?

Asked by ront75, 90502 Fri Oct 26, 2012

I have secured a home to rent but it won't be available till mid to late December. What steps can i take to delay eviction? Should I contact a lawyer, negotiate with the bank, etc.? I've researched but still cannot find a definitive answer.

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Dot Chance’s answer
Dot Chance, Agent, Burbank, CA
Fri Oct 26, 2012
Just stay in your home. If the beneficiary is now the owner you will most likely get "cash for keys" so it could be worth your while to stay there until they come to the door.

I agree with the answers below, if it is now owned by an investor they will be knocking on your door soon and will begin eviction proceedings. Don't let it get that far. You do not want an eviction on your record!

Wishing you the best,
Dot Chance, Realtor®
Certified Distressed Property Expert – CDPE®
DRE License #01494182
Keller Williams Realty World Media Center

WHEN YOU THINK OF REAL ESTATE...Think DotChance.com! My business thrives from your referrals!
0 votes
Michael Magaw, Agent, Torrance, CA
Fri Oct 26, 2012
You will be contacted. If an investor purchased the property, then they will move quickly to get you out of the home. If the property reverted back to the beneficiary, then you will be contacted by a real estate agent, although this typically is a slower process.

Regardless of who the new owner is, you should negotiate and work with them. Ask them for some time and in exchange you can offer them something. Or maybe get cash for keys and get out sooner and stay at a short term rental place.
0 votes
Sheyenne Sch…, Agent, Torrance, CA
Fri Oct 26, 2012
Stay put for now. The beneficiary...which was your servicer who u paid your mortgage payments to
will be contacting you soon. Or, if they gave this as an REO/Bank Owned listing a realtor, then the realtor who now has the new listing...will be knocking on your door to contact you to :
1)see if the home is occupied and 2)IF the home IS occupied, then they may try to offer you a CASH FOR KEYS settlement to amicably vacate the home...usually, they will want u out asap: but you can point out that CA law states you have 60 days now to vacate, not 30 days anymore.
If you can work out something amicably with them for CASH FOR KEYS...and hopefully this will coincide with your date to move into your new home.
Call me if you need more info 310-429-4170 Shy:)
They cannot just come and LOCK you out, or kick u to the curb...they would have to go thru the eviction process if you do not cooperate peacefully and do the CASH for KEYS settlement.
0 votes
thank you very much for your very informative reply. can you point out the CA law that states I have 60 days to vacate? also does it apply to my case? i've been reading and everything I've read was from 3 days to 5 days notice before they start the eviction process. of course I would like to avoid eviction and further damage my credit :) the 60 days would line up perfect if that is the case.
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