do i need to find alternative accomodation just in case i need help now
2007-07-09 23:59:26 · 5 answers · asked by LOUISE S 1 in Business & Finance ➔ Renting & Real Estate
You have a bit of time - first they have to gain possession from the Landlord, then they will dispose of it to get their loan back. They could sell it as an investment property with you as sitting tenant, however more than likely they will issue you notice to quit then sell it as vacant possession. If it is the latter they are required under law to give you 2 months notice. Ask them what they intend to do so you are prepared.
I dont know how you can get your bond back though so be prepared to stump up some more cash for the bond on a new property. Despicable Landlord - makes me sick!
2007-07-10 04:13:20 · answer #1 · answered by derbyandrew 4 · 0⤊ 0⤋
That will depend upon the agreement you currently have in force. If you have a written tenancy agreement with time yet to run it will survive the taking of the property by the receiver and you can remain at least through its expiry.
This has happened to me on at least 3 occasions over the past 35 years.
2007-07-10 02:16:24 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Yes as a back up plan!
This happened to me about 8 years ago (not sure which country you are from, so you'll have to check local law, I am in the UK)
I managed to find out the mortgage provider and I tried to see if I could take over the mortgage. Apparently in the UK, some banks will allow this to happen if you meet certain criteria, sadly the bank in this occasion didn't have this policy. I had to move.
2007-07-10 00:08:04 · answer #3 · answered by Spawnee 5 · 1⤊ 0⤋
contact the reciever & ask what they plan to do, depending on your tenancy agreement & it was all legal to start with they cant just kick you out. same thing happend to me & the reciever had to sit out the term of my agreement (3months left out of the 6) or provide me with adequate housing asap, either way unless you propose to the reciever that you wish to purchase the property you will eventually have to move.
Also if the receivers have already been called in your landlord new about all ages ago & has been leading you up the garden path, file with the receivers to press charges against him for your deposit back.
2007-07-10 00:45:31 · answer #4 · answered by wonderingstar 6 · 0⤊ 0⤋
I'd look around just in case. I feel sorry for ya as its not your fault yet you end up sufferin. Some people are so selfish,your landlord is a git!!! Good luck with it all.
2007-07-10 00:04:34 · answer #5 · answered by Anonymous · 0⤊ 0⤋