How long after a foreclosure in CA does an owner have to leave?

Question

How long after a foreclosure in CA does an owner have to leave?

Answer 1

Once it is sold and the foreclosure complete, you are considered to be a tenant. Once a lender or buyer finds that someone is occupying the property (They will usually know at this point) then they will immediately start the eviction process. Since you would now be considered a tenant and would be following the same rules as if you defaulted on a rent payment. Check with a real estate attorney or legal advocate for specific rules and regulations for landlord/tenant relationships. It is typical for a lender, once the foreclosure process has been completed, to offer the current "tenant" in the property a stipend if they will vacate the property within a set time frame (Usually 2-3 weeks) this is called "Cash for Keys" (Typical offering is around $1000.00 in CA) in the industry and someone will be contacting you soon in any case. Do not ignore the new owner at this point and make sure to play close attention to any contact from the new legal owner.