forcloser tenantowner (by Patti [MA]) Mar 5, 2015 12:56 PM
forcloser tenantowner (by Dave [GA]) Mar 5, 2015 2:14 PM
forcloser tenantowner (by colin [CO]) Mar 5, 2015 2:25 PM
forcloser tenantowner (by John... [MI]) Mar 5, 2015 3:13 PM
forcloser tenantowner (by Mark [OH]) Mar 6, 2015 2:41 AM
forcloser tenantowner (by RentsDue [MA]) Mar 6, 2015 4:02 AM
forcloser tenantowner (by Patti [MA]) Mar 6, 2015 6:38 AM
forcloser tenantowner (by DR [MA]) Mar 6, 2015 6:49 AM
forcloser tenantowner (by Patti [MA]) Mar 6, 2015 7:32 AM
forcloser tenantowner (by Patti [MA]) Posted on: Mar 5, 2015 12:56 PM Message:
Just purchased a house in for-closer and there are the previous owners still there, is the process to have them move out the same as a tenant?
--66.30.xxx.xxx |
forcloser tenantowner (by Dave [GA]) Posted on: Mar 5, 2015 2:14 PM Message:
They aren't tenants. I'd get a lawyer. --99.16.xxx.xxx |
forcloser tenantowner (by colin [CO]) Posted on: Mar 5, 2015 2:25 PM Message:
You might get a faster result offering them cash for keys! You might also point out to them that the alternative is eviction and if they end up with that against them it could cause them a problem when they apply for a rental. --73.181.xxx.xx |
forcloser tenantowner (by John... [MI]) Posted on: Mar 5, 2015 3:13 PM Message:
This varies greatly by state -- you'll want someone from MA to answer.
Does MA have a right of redemption for foreclosures? Here in Michigan, after you bought it (like on the courthouse steps), they would have a minimum of six months and possibly 12 months to buy it back. (I'm 5 months into a 6 month one right now -- just waiting out this last month!)
Also, exactly when/where/how did you buy it? Did you buy it from the bank that has already foreclosed on it (which is much more common)? Or did you actually buy it on the courthouse steps (or however it is done in your state) instead of the bank buying it back?
- John...
--207.241.xxx.xxx |
forcloser tenantowner (by Mark [OH]) Posted on: Mar 6, 2015 2:41 AM Message:
There might be a problem here that I'm not aware of, but in your situation, I'd offer to rent to them. If they qualify, besides this house issue, offer them rent, they like the place, have it decked out the way the like and might be great tenants for a long time. --151.145.xxx.xx |
forcloser tenantowner (by RentsDue [MA]) Posted on: Mar 6, 2015 4:02 AM Message:
Actually easier to remove the owner than a tenant from a foreclosure. It's been a while since I was in your situation, but I think I was only required to give 14 days. However I can't do that to someone who has just lost their home. It's not the same as a tenant who is not paying me. 30 days is fair and cash for keys is more likely to get you what you want ( they probably don't have the money to move). Chances are that they have been living there for a few years without paying the mortgage and still saved nothing for a new place. You probably want to read up on the laws regarding this as MA likes to change the game a lot. A little advice: If doing cash fir keys, give the money to the new LL- not the outgoing homeowners. --71.10.xxx.x |
forcloser tenantowner (by Patti [MA]) Posted on: Mar 6, 2015 6:38 AM Message:
Thank you all. Not thinking of doing a fifteen day. We are too swamped with 4 feet of snow to consider that. But just wanted to know what our options were. I did some law research and updated my need to know.first experience in purchasing at auction.com at foreclose. --66.30.xxx.xxx |
forcloser tenantowner (by DR [MA]) Posted on: Mar 6, 2015 6:49 AM Message:
Mass has some fairly strong regulations around foreclosures. There is no right to redemption and its a non-judicial foreclosure state which means that generally the only time a (former) owner is able to challenge the foreclosure in court is during the eviction afterwards. Even though you had nothing to do with the foreclosure other than buying the property at auction they can challenge the legality of the banks actions. As others have said, cash for keys is probably the easiest option for you and it might need to be more generous than normal. If it ends up being an eviction, I'd get a lawyer for this one...there is at least one eviction in MA that I know of, currently in appeals, that has been open since 2013. --107.77.xx.xx |
forcloser tenantowner (by Patti [MA]) Posted on: Mar 6, 2015 7:32 AM Message:
Don't scare me now! We just started the process of turning on the gas in another building and found out that the main bldg which the previous owners are located have a gas shut off on the 9th. Maybe they will be moving soon with out any legalities.We will be doing work in the building and they may give us some indication on what their plans are. --66.30.xxx.xxx |
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