Tenants be where about foreclosures

Michael Feicco – Dilbeck Real Living

As a tenant you need to be on the lookout about the home you are currently renting becoming a foreclosure, short sale or bank owned (REO).

You might not be able to identify this very easily. But if you happen to see letters to the landlord showing up at your home and they are from a bank or financial institution then I would a bit concerned.

You are obligated to pay rent if you have a contract still in place. What your obligations are as a renter really depends on  the contract you have with your landlord.  If a landlord had put into the contract that they have permission to sell the house while you live there then they can do so. Although the sale should not interfere with your lease agreement.

Most landlords will give you 30-60 days to move out. I’m not a lawyer and don’t play one on tv so I  can’t give legal advice on this issue, only help to the best of my knowledge.

I do suggest anyone with questions either contact legal advise and/or go on line to the state of CA  department of consumer affairs and print a copy of the renter landlord rules.

Click here for a direct link to the site!

I do have a copy at my office and refer to that quite often.

I hope this helps…

If you have any questions please feel free to contact me

Michael Feicco – Dilbeck Real Living