I have a friend whose house is being sold at a sheriffs sale. How long after the sale will she have to move? Does the property always get sold?
2007-09-25 10:48:37 · 7 answers · asked by onedaringdar 1 in Business & Finance ➔ Renting & Real Estate
Yes, the property always gets sold. The mortgage company has a default bid in the amount of the mortgage if no bidders come forth, so the house is gone. Depending on the state, notice can be immediate or take a while. You should see if the mortgage company will rent the house to your friend as suggested by another answer. In this market I think your friend will have a good chance of staying as a tenant for a while. If the house sells above the amount owed on the mortgage, your friend will be entitled to a refund of the overbid amount.
2007-09-25 12:59:26 · answer #1 · answered by proactiveindy 2 · 0⤊ 0⤋
In most states you have 6 months right of redemption, from the date of sheriffs sale. An eviction notice follows, 10 day notice to vacate, again, in most states. Check on the statutes in your state. In any event, at the end ,if there is personal property, (including people), all are put to the curb! Good Luck!
2007-09-25 11:03:46 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I am actually surprised they haven't made your friend already move out.
But at a sheriff's sale the house is put up for auction so to speak to anyone, at the court house, if its not what the bank wants for the house, it will go back to the bank. Usually in this case your friend would definitely need to be out at this point.
Hope this helps! Take Care
2007-09-25 10:53:30 · answer #3 · answered by Jennifer C 3 · 0⤊ 0⤋
As soon as the Sheriff or court issues the certificate of sale to the successsful bidder, he/she/it has the right to obtain an order (sometimes called writ of posession or writ of assistance) to have the sheriff move the former owner out. What your friend can do is contact the Plaintiff's attorney or the winning bidder's attorney & offer to rent the place if he needs more time to move out.
2007-09-25 11:25:34 · answer #4 · answered by Anonymous · 1⤊ 0⤋
Froeclosure cancels all leases and contracts. The financial company owns the homestead and needs you out. It sucks, yet it rather is the way it is going. You have been served a observe to stop. in case you fail to vacate in keeping with the information the financial company will report an eviction against you. you won't could circulate actual away, as judges tend to furnish tenants time to locate yet another place. you will could answer the summons and criticism while this is served. you will could circulate to courtroom otherwise the financial company gets a default eviction judgment against you and a sheriff will set you out. The choose will probably provide you a "stay" - time to locate yet another place. you will could pay hire (use and occupancy) throughout the time of the "stay". you will finally end up with an eviction judgment against you.
2016-10-05 08:46:00 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Smart people are gone long before the sheriffs sale .
Time to stop being lame and get relocated , ASAP .
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2007-09-25 10:52:13 · answer #6 · answered by kate 7 · 0⤊ 1⤋
Depends on the notices received.
2007-09-29 10:48:24 · answer #7 · answered by divorcecoach 1 · 0⤊ 0⤋