Our house goes to auction tomorrow morning. I am wondering how much time I have to vacate. Las Vegas, NV

Asked by Pk, 95828 Tue Nov 1, 2011

Help the community by answering this question:

+ web reference
Web reference:

Answers

11
Michele Peterson’s answer
Michele Pete…, Agent, Rocklin, CA
Tue Nov 1, 2011
PK,
Sorry for your loss. However, you will soon be in a much better situation and on the road to wealth in a new home.

Each state has very specific laws regarding foreclosure.

Most foreclosures in Nevada are non-judicial, meaning outside of court.

My suggestion would be to start packing. However, there is no need to move in the middle of the night.
Typically, houses do not sell on the court house steps unless they are very close to actual amount owed. If you were completely upside down, then it will be assigned to a Realtor in your area by the bank. The Realtor will then knock on your door and ask to do a home inspection. Please, allow them in to the house. They will work with you to get cash for keys and assist with your moving expenses.

At this time, the Realtor will say that you need to be out in 1 week.

Ask for 3 weeks and agree to leave the home in good condition and not remove any of the fixtures or damage the property in any way.

At the end of the 3 weeks, the REaltor will return to do a final walk through and give you the check in exchange for your keys. It can be a stress free process. Keep your mind and family focused on improving your lfiestyle and not on being embarrased about losing your home. This is not only happening to you. AND at the end of 3 yeas when your credit is restored, you can buy a similar house for a fraction of the price.
2 votes
If they can't pay the mortgage then they probably need the relocation money in order to move. You need money not good looks to initiate movement.
Flag Fri Nov 22, 2013
Good info. These realtors need to understand most people that will go thru this prcoess need the relocation monies now and should be awarded before the 3 weeks because I know for a fact that you will not be able to get into reduced income rentals if this property is still attached to you as an asset. So what will happen is they wont be able to put anything in storage or rent until they have those funds. If they know they will get the funds upfront they are NOT likely to damage the property.
Flag Fri Nov 22, 2013
Tammydee43, Home Buyer, Sacramento, CA
Tue Aug 20, 2013
how long do i have to get out of my house after it goes to court for the forclosure in Louisville, Ky.
0 votes
Santiago Ken…, Agent, Chicago, IL
Wed May 29, 2013
Sorry for your loss , i hope everything is ok now in 2013
0 votes
Sue Archer R…, Agent, Palm Harbor, FL
Mon Apr 8, 2013
Carvalhokl, the notice of sale that was sernt to you had a phone number that you can call. If you call that number, in most cases, you will have an automated number that you can use that will tell you if the sale is still occurring, or has been postponed. it will also indicate the price that it will be sold for.

The factors concerning the sale are at the whim of the investor who owns your loan. (that is not often the loan servicer who was collecting your mortgage payments.) If the price is still what you owed and not the current market value of the property, there's some chance that it will be delayed, or if it is sold, that the bank will end up buying it back. When the opening bid has been lowered to closer to market value than expect it will actually go to sale as scheduled and there is a good chance that it will be purchased by an investor.

In either case, if it's sold at auction, the new owner will contact you. For your own peace of mind, i would start packing and be prepared in finding a new home. That gives you some control over the next step rather than waiting for the knock on the door.
0 votes
carvalhokl, Home Owner, Jacksonville, FL
Mon Apr 8, 2013
I live in Jacksonville, FL. My townhouse is going on auction on april 10. How long i have to get out the house ?
0 votes
Trentsmommy1…, Home Buyer, Roanoke, VA
Tue Jan 1, 2013
I'm having the same trouble also! I live in West Virginia & my home will be auctioned in 2 days, on Jan 2nd 2013!! I can't find any answers online.. I dunno how long I have 2 move My Family & My Entire Life If The House Is Sold & If It's NOT Sold, Then What Happens??! CAN ANYONE HELP ANSWER MY QUESTION OR LEAD ME IN RIGHT DIRECTION?? PLEASEEE?!?
0 votes
Allison Norm…, Agent, Santa Rosa, CA
Tue Nov 8, 2011
Pk...Please, please, please do not leave in the middle of the night. That is SO not necessary. In the best case scenario, no offers will be made and the bank will take the house back. They will assign it to an agent to bring it to the market. This does not mean simply throw you out and put a for sale sign out front. Within the next week or two you should receive a note or knock on the door from the agent. He/she is the good guy here. The bank has asked the agent to find out if the house is occupied, in which case, they will make you an offer "cash for keys" to move out in a timely manner , usually 30 days. The amount offered can be pretty substantial.

If a 3rd party buys your home at the auction, they will most likely be less accomidating, and really don't have to give you time to get out of what is now their property. Fortunately not all are that cold hearted., but do expect to be out in a few days, and don't expect any incentive to be offered.

So, while it is a good idea to get packing, there really is NO need to sneak out in the middle of the night. I do hope we caught you in time.

Best of luck to you.
0 votes
Morgan Larson, Agent, Folsom, CA
Wed Nov 2, 2011
The only answer I completely disagree with is the first. Don't pack your bags and be out in the middle of the night. A sheriff isn't going to show up this morning and force you out. Like most of the people answered below, there is a high chance that the home was bought back by the bank and will be assigned to a Realtor to sell. They will eventually call or knock on your door. They may or may not offer you cash for keys. If they do offer this amount is negotiable within reason. But keep in mind that because it is now their property, they do not have to offer you any money.

Like many of the other answers suggest, be gracious when you move out. The new owner can hold you accountable for an overly damaged home. Start up your new life, start working on getting your credit back to a good situation (there are professionals that can help you with this), and soon enough you'll be back in a home of your own again. Sorry to hear about your loss, and good luck in the future.
0 votes
Sue Archer R…, Agent, Palm Harbor, FL
Wed Nov 2, 2011
I'm not an REO listing agent but I disagree with the advice given below. Understanding that losing your home is a devastating occurrence, you can now control the process by which you vacate the property,as no matter what, you have lost all rights to it. Tho only consolation is that you were possibly able to live in the home many months rent free.

If you've confirmed that the home did actually go to foreclosure, then pack and move. Leave the home in good condition, so as to have pride that you did not impact your neighbors home values by damaging the property on the way out. Do NOT hold the home ransom for cash for keys, which is never guaranteed in the first place, and should not be expected. Ethically and morally, you should move out, leave the home in good condition and find another home now. As for purchasing another home, focus on keeping your payments on other bills current, so that you can recover your credit score as quickly as possible, However with the current laws, a foreclosure will not allow you to obtain another mortgage for 7 years, not 3.

Again, I'm so sorry for your circumstances, as we all are. If you know anyone else who is having difficulty in paying their mortgage, please refer them to a certified distressed property expert, as many realtors are these days. There are programs that could possibly have helped avoid this foreclosure if you work with your lender ealry enough.

My webiste has some free reports that a homeowner can use to evaluate their options.
Web Reference:  http://www.AskSueArcher.com
0 votes
Trevor Hunti…, Agent, Port Townsend, WA
Tue Nov 1, 2011
I am going to ditto Micheles answer on this one. She is spot on with her advice and you may find the "cash for keys" she refer to if you keep the home in good shape and move out in the time frame that is given to you.
0 votes
Don Maclary, Agent, Virginia Beach, VA
Tue Nov 1, 2011
My suggestion would be to get your belongings out before the auction!
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more