Actually you are in the catbirds seat IF you have a bona fide lease. Look up the terms online for it but basically the lease had to be an arms length transaction.. (you and the landlord are not pals or bros…) the monthly rent is market rate. Also the date of the lease with respect to when the notice of trustee sale was issued is important. If the lease was dated prior to the trustee sale and the conditions above are met then technically the new owner has to abide by the lease terms and as long as you CONTINUE to pay your rent and abide by the lease then you can live there…
Also note this is all by memory as we have not purchased at the steps for awhile.
Basically the new owners will come or send a representative to talk to you. If the conditions above are met you have leverage and can strike a nice cash for keys offer. If they are not met you still can strike a cash for keys offer though you will not have quite as much leverage…
If you have more questions you can pm me though I cannot promise great answers.
