When your property has been sold at auction (Trustee's Sale), how long until you HAVE TO LEAVE?

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Your Question

When your property has been sold at auction (Trustee's Sale), how long until you HAVE TO LEAVE?

my home went to trustee sale yesterday...I was wondering how i can find out if it was actually purchased or if it went back to the bank...and then i want to know how long i can stay until i absolutely have to leave. I have all good intentions of leaving but my new rental property didn't end up working out so am on the hunt for a place and am freaking out! Anyone?

Answer 1

The answer to your question depends on how long it takes the legal documents to be transferred to a new buyer if the property is sold at the auction.

The new owner or his/her representative will contact you so the both of you can make a mutual date for you to move.

If the property was not sold, and the lender took the property again after the legal paper work is done most lenders hire a real estate agency to look at the property and place it on the market for sale.

The real estate agency will make contact with you so the both of you can determine the best time for you to move.

I hope this has been of some use to you, good luck.

"FIGHT ON"

Answer 2

This will depend on the laws of the state you live in.  In most jurisdictions, the new owner must start an eviction proceeding against you.  Assuming the new owner starts right away, you might get up to 60 days to move.  If the court system is efficient however, you might be lucky to get 30 days.

Answer 3

You could call the Trustee or the bank.

I saw one house go to a courthouse step sale several times and fail at the last minute because of paperwork problems.  Most of the time the houses do sell and you will then get a notice.