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Foreclosure in Westminster : Real Estate Advice

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  • Home Buying16
  • Home Selling1
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Activity 4
Mon Oct 17, 2011
John Arendsen answered:
Unfortunately welcome to the real world of foreclosures, auctions and short sales. This is a very frustrating part of the real estate biz to say the least. Even polished and experienced RE pros become frustrated and discouraged in this arena.

From the tone of your question it sounds like you're trying to do this on your own. I would strongly recommend that you seek the advice of an experienced RE professional who specializes in distressed property acquisitions in your area.
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Tue Mar 29, 2011
Don Tepper answered:
That's a bit of a mess if neither of you has a copy of the lease. In the future, try to be more careful.

Check with a lawyer. I'm sure you have rights. But so do the tenants. Make sure you do things legally and properly.

As for the extra person living there who's not on the lease--how can you prove that if you don't have a copy of the lease? If you suspect he's dealing drugs, you might consider calling the cops. If the cops discover something, that may solve your problem. Even if they don't, repeated visits by the police may make your deadbeat tenants uncomfortable enough to move.

Hope that helps.
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Fri Dec 4, 2009
Thom Colby answered:
Glad12 -

Isn't the landlord, the owner? The NTS will tell you when it's going to be sold. You should contact the owner and ask what the situation is. Once the property is sold / foreclosed, you will be notified by the agent for the bank as to where to send future rent payments. If you have a security deposit it is likely gone.

Do not pre-pay your landlord rent in advance (for future payments) - even if they offer a discount. Make sure you have a valid lease or your cancelled checks to show you've been paying rent.

If the bank keeps the property to be sold, you may be offered "Cash for Keys" to get you to move out ASAP without evicting you. Typically they will give a couple of weeks and will pay about $1,000. If the bank sells the property to an individual at the foreclosure, they may want you out and take possession right away with no payment to help you relocate.

I just received a bank owned listing and unfortunately the tenant had pre-paid a year's rent "at a discount" to the former owner - now - the tenant will be evicted by the bank so the property can be sold.

It's an unfortunate time we are in - watch out for yourself and keep open communication with whomever becomes the owner of the property - they may want to keep you as a tenant!

Cheers,

Thom Colby
Broker & REALTOR
Orange County, CA
Houston, TX
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Tue Aug 31, 2010
Voices Member answered:
Lm, You might want to read thru this..... http://www.sco.ca.gov/ardtax_public_auction.html

http://egov.ocgov.com/ocgov/Info%20OC/Departments%20&%20Agencies/Treasurer-Tax%20Collector%20-%20Chriss%20Street/Property%20Auctions

http://www.bid4assets.com/help/index.cfm?fuseAction=TaxSale

Good luck, Dunes
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