forclosure sale on rental property?
Wednesday, April 7th, 2010 at
1:30 pm
I rent a house that is in foreclosure and goes to trustee sale next Tuesday. If the house does not sell at the trustee sale, who owns the house. My landlord wants rent for Feb. and I don’t know if he still owns the house if it does not sell at the trustee sale. Thanks for the help
Sell House Quick
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Tagged with: Foreclosure • Landlord • Rental Property • Trustee Sale
Filed under: rent property
Betaal niet til na de verkoop …….. de bank het huis…. zal bezitten
Typically, the bank who holds the mortgage/deed of trust opens the bidding for what is owed on the property. If there are no other bidders then the property goes to the bank. The bank will then want to sell the property to recover some of their money. In order to do that the property will need to be vacant, which means you should expect to be contacted in some way by a law firm that is hired to do an eviction. I would go to the sale, and see who buys it. If it goes to a third party, you might be able to work something out as far as staying in the property.