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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Rental Foreclosures Posted by SeanW on February 06, 2004 at 7:33 PM What's a fair way to handle a renter, when you buy at the trustee sale? The house I'm getting has a tenant in it. I'm waiting for funds to arrive, and will pay the trustee next week. I'll have the deed in the middle of February. Suppose the renter paid this month. In all likelyhood, when I get title, the old (broke) owner won't be willing to refund the security deposit or the last half of the month's rent to the tenant. Lughead has said being a softy with renters gets you nowhere. But, I can understand a renter being shocked to have somebody knock on the door and explain that "Your landlord doesn't own this house... and you lost your deposit... and you need to be making moving plans!" To my knowledge, N.C. doesn't have any special priveledges for renters as holdovers, when the lease was unrecorded. You can just give them the same 10 days' notice. In my case, I'm not in a big rush to get into this house. I'm still preparing the one I bought last September for sale. So, letting the renter stay a month or two isn't a big deal. But I'm wondering if this is still a bad idea, vis-a-vis the problem of letting ex-owners hang around. Follow Ups: Re: Rental Foreclosures Lughead 8:04 PM, 02/06/04 (2) Re: Rental Foreclosures SeanW 11:15 AM, 02/07/04 (1) Re: Rental Foreclosures Joe Kaiser 1:27 AM, 02/12/04 (0) Post a Followup: Name : E-Mail : Subject : Comments: : What's a fair way to handle a renter, when you buy at the trustee sale? : The house I'm getting has a tenant in it. I'm waiting for funds to arrive, and will pay the trustee next week. I'll have the deed in the middle of February. : Suppose the renter paid this month. In all likelyhood, when I get title, the old (broke) owner won't be willing to refund the security deposit or the last half of the month's rent to the tenant. : Lughead has said being a softy with renters gets you nowhere. But, I can understand a renter being shocked to have somebody knock on the door and explain that "Your landlord doesn't own this house... and you lost your deposit... and you need to be making moving plans!" : To my knowledge, N.C. doesn't have any special priveledges for renters as holdovers, when the lease was unrecorded. You can just give them the same 10 days' notice. : In my case, I'm not in a big rush to get into this house. I'm still preparing the one I bought last September for sale. So, letting the renter stay a month or two isn't a big deal. But I'm wondering if this is still a bad idea, vis-a-vis the problem of letting ex-owners hang around. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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