I am currently renting a property that is undergoing foreclosure. I received a copy of a final judgment of foreclosure which states that the apartment will be up for sale in auction on January 2010.
I reached an agreement with my landlord, so I am paying 1/2 the rent I used to pay when I first moved in (no lease). She told me she was declaring Bankruptcy so I dont know how that will affect the auction process.
How do I find out who I should deal with after the sale takes place? I would like to make arrangements with the new owner. Paying less rent is only allowing me to reduce my credit card debt so I still need to gather the money to move out.
I dont want to get home and find the locks replaced and my furniture on the street. I am terrified of that idea.
Corporate / Incorporation Lawyer
A. Attend the auction and see who the winning bidder is.
B. Check the property records to see who gets the deed. or
C. Wait for the new landlord to contact you.
They will have a right to evict once they purchase, and if you can't come to terms they're either going to pursue an eviction or perhaps pay you "key money" to move out.
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Real Estate Attorney
You can always check the docket for the foreclosure case and contact the attorney for the lending/foreclosng party. It is quite unusal that they have filed a foreclosure case and did not serve you. However, check with Clerk and find out the docket and attorney information and inform them of your situation.
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