i am renting a condo in iowa.i just found out that it's listed on sheriff sale at the end of next month.have a contract for 1 year.what are my?

Asked by Lex, Des Moines, IA Mon Aug 15, 2011

rights? Do i need to move out immediately?

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3
Steve Widmer, Agent, Altoona, IA
Thu Sep 27, 2012
Lex,

Stay put. I just had this on a transaction that my investor purchased two homes together one was vacant and the other had a tenant in it. The investor kept them in the home and nothing ever changed and are finishing out their lease!
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Steve Widmer, Agent, Altoona, IA
Mon Aug 15, 2011
Lex,

I agree with Tim it might not hurt to contact a lawyer. In my experience with REO's the bank will want to see a copy of the signed lease. More than likely you will be able to stay. I have had where one bank offered the tennant money to move with relocation costs! Someone will contact you to work something out!
0 votes
Tim Moore, Agent, Kitty Hawk, NC
Mon Aug 15, 2011
It would not hurt to contact a lawyer to have them review your lease. Most likely the lease will stay with the house so who ever buys it at the auction will be your new landlord until your lease expires. It could be the bank or an investor.
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