InnoVest Resource Management's Foreclosure Forum

Discussion Board Foreclosure Training Title Holding Trust Speaking Schedule Foreclosure Codes 50 State Foreclosure Basics Foreclosure Glossary 60+ Yrs Interest Rates News & Trends FAQ Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Give written notice to vacate to holdover owners after the foreclosure sale. Posted by Larry Van Valkenburgh on December 14, 2001 at 7:30 AM In Reply to: Re: Give written notice to vacate to holdover owners after the foreclosure sale. posted by Ward-CA- on December 07, 2001 at 6:25 PM : : this is my first case in which the owner is in the property that i just got. all the others have been vacated just before the sale. i would like to know before i goto the courthouse can i just cross my fingers and goto the property and ask them to leave or will i be wasting my time and need to go through the eviction process anyway? maybe it's needed just to have on record that they have been formally told to leave by the county. : : i live in north carolina. thank you. : =?=?=?=?=?=?=?=?=?=?= : Lea, I have to believe that most states, including NC, would require you to give a holdover occupant, due to foreclosure, a reasonable time period to vacate the premises. For example, here in CA we give holdover owners a Three Day Notice To Vacate when we go out to visit them after recording our new trustee?s deed. : So I would suggest you inquire of a local attorney, one who specializes in the specialty of landlord/tenant law, how much time is appropriate in NC. Then take you notice with you and serve it on the tenant in a polite fashion. I am just getting started in foreclosure investing here in California, so I'd be interested in any comments about the pros and cons of two possible courses of action when the property is owner-occupied. Option #1 is an eviction proceeding; Option #2 is a negotiated exit whereby the occupant (former owner) is offered a sum of money in exchange for vacating "without a fuss". I have heard horror stories about unhappy former owners trashing the property or dragging the eviction process out ad nauseum. Follow Ups: Re: Don't prejudge too much, just about all folks do the right thing. Ward-CA- 7:37 PM, 12/15/01 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : : this is my first case in which the owner is in the property that i just got. all the others have been vacated just before the sale. i would like to know before i goto the courthouse can i just cross my fingers and goto the property and ask them to leave or will i be wasting my time and need to go through the eviction process anyway? maybe it's needed just to have on record that they have been formally told to leave by the county. : : : i live in north carolina. thank you. : : =?=?=?=?=?=?=?=?=?=?= : : Lea, I have to believe that most states, including NC, would require you to give a holdover occupant, due to foreclosure, a reasonable time period to vacate the premises. For example, here in CA we give holdover owners a Three Day Notice To Vacate when we go out to visit them after recording our new trustee?s deed. : : So I would suggest you inquire of a local attorney, one who specializes in the specialty of landlord/tenant law, how much time is appropriate in NC. Then take you notice with you and serve it on the tenant in a polite fashion. : I am just getting started in foreclosure investing here in California, so I'd be interested in any comments about the pros and cons of two possible courses of action when the property is owner-occupied. Option #1 is an eviction proceeding; Option #2 is a negotiated exit whereby the occupant (former owner) is offered a sum of money in exchange for vacating "without a fuss". I have heard horror stories about unhappy former owners trashing the property or dragging the eviction process out ad nauseum. 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

Copyright © 1997-2001, InnoVest Resource Management

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455