how long after my house sells at a foreclosure auction do i have to be out?

Asked by sbnotary, Denver, CO Wed Sep 5, 2012

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Jeff Corporon, , Denver, CO
Wed Sep 12, 2012
If the lender owns the property, they will need to proceed with an eviction process (Forceable Entry and Detainer)("FED"). The Public Trustee will issue the PT deed in 14 days and then the lender posts a three day notice, then schedules a hearing that must be held within 10 days of the filing. At the hearing the judge will issue a Writ of Restitution 48 hours after his ruling. The lender can then take the Writ of Restitution and schedule an actual eviction date with the County Sheriff in which the property resides. In the Denver metro area it takes about 2-3 weeks for the Sheriff's office to schedule the eviction date. All said in Denver about 3-4 weeks from the sale date.

Jeff Corporon, Attorney and Realtor
0 votes
Marianne Ban…, Agent, Englewood, CO
Thu Sep 6, 2012
It really depends on who bought it. If an individual bought it, they may give you some time, and a cash for keys deal to ensure that the former homeowner leaves the house is good condition. If the bank purchase, I'd connect with them to get a time frame.
0 votes
Robert McGui…, Agent, Denver, CO
Wed Sep 5, 2012
Sbnotary,

Normally you have about 10 days to be out. Some lenders are busier than others and don't get out to change the locks and take official possession for a while. I would con tact them to make sure you know what there time frame is. In most cases they will send you a letter with exact dates and conditions in which you will need to be out. If there is confusion and you miss the letter they send, you could could find yourself locked out and all of your possessions inside the home. Your best solution is to be packed up and out by the day of the foreclosure auction to be safe and save yourself some sleepless nights. Remember that with good credit, you can purchase with FHA again in 3 years. Check out my blog about that here - http://bit.ly/xR34MG - All the best with moving forward.


Robert McGuire ASR
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Your Castle Real Estate
Direct - 303-669-1246
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0 votes
Cory Fitzsim…, Agent, Golden, CO
Wed Sep 5, 2012
At the time of sell you are no longer the owner so, I would assume, the new owner will want you out asap. You are now a liabilty for them and you are tresspassing. Find out who the new owner is and ask if you can work out a rental arrangement.
0 votes
Debbie Taylor, Agent, Denver, CO
Wed Sep 5, 2012
You need to call your lender and speak with them, they all handle it different. Some might give cash for keys and work with you if it was sold at public trustee auction you need to deal with the Buyer they can not take the possession for 8 business days from date of sale.
0 votes
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