HELP! Landlord asking if we want to buy our rental as “short sale”

[barnaby33]

FLU, if your landlord is deeply upside down, tell her to sleep on the couch till she gets the mortgage up to date. Also tell her you’ll be joining the emperors club till then.

Josh

[temeculaguy]

dharma, you can run an online grantee search to see if she has beed given the nod or the not. You will need her first and last name, if a notice of default is listed you have at least 90 days, if the notice of trustee sale is there, better start looking at rentals this weekend.

http://www.enetwizard.com/shop/affiliates/11467_01/default.asp

just enter her name, last name first, no commas, this site only works for riverside county. You don’t need to buy the docs or subscribe to anything, just the knowledge of when and what was filed is enough to give you the info you need.

you can also go to foreclosure dot come and choose pre-foreclosures after searching by zip code, then organize the data by street name, if there has been a nod filed, your days are numbered between 90 and 120 of the nod.

I know Redhawk as well as anyone on the boards, let me know the tract name or Rancho and I can tell you what the best deals or sales have been but 499 is not a reasonable price for anything here, 399 isn’t either. Anything and everything can be had for under 400k with most avail for under 300 if you look hard enough. If she tried to negotiate a short sale the bank will slow down the foreclosure process but you don’t want to agree to allow showings without considerable rent reduction, like half off because it is a pain since shorts are usually priced very low and have many showings.

[temeculaguy]

dharma, you can run an online grantee search to see if she has beed given the nod or the not. You will need her first and last name, if a notice of default is listed you have at least 90 days, if the notice of trustee sale is there, better start looking at rentals this weekend.

http://www.enetwizard.com/shop/affiliates/11467_01/default.asp

just enter her name, last name first, no commas, this site only works for riverside county. You don’t need to buy the docs or subscribe to anything, just the knowledge of when and what was filed is enough to give you the info you need.

you can also go to foreclosure dot come and choose pre-foreclosures after searching by zip code, then organize the data by street name, if there has been a nod filed, your days are numbered between 90 and 120 of the nod.

I know Redhawk as well as anyone on the boards, let me know the tract name or Rancho and I can tell you what the best deals or sales have been but 499 is not a reasonable price for anything here, 399 isn’t either. Anything and everything can be had for under 400k with most avail for under 300 if you look hard enough. If she tried to negotiate a short sale the bank will slow down the foreclosure process but you don’t want to agree to allow showings without considerable rent reduction, like half off because it is a pain since shorts are usually priced very low and have many showings.

[temeculaguy]

dharma, you can run an online grantee search to see if she has beed given the nod or the not. You will need her first and last name, if a notice of default is listed you have at least 90 days, if the notice of trustee sale is there, better start looking at rentals this weekend.

http://www.enetwizard.com/shop/affiliates/11467_01/default.asp

just enter her name, last name first, no commas, this site only works for riverside county. You don’t need to buy the docs or subscribe to anything, just the knowledge of when and what was filed is enough to give you the info you need.

you can also go to foreclosure dot come and choose pre-foreclosures after searching by zip code, then organize the data by street name, if there has been a nod filed, your days are numbered between 90 and 120 of the nod.

I know Redhawk as well as anyone on the boards, let me know the tract name or Rancho and I can tell you what the best deals or sales have been but 499 is not a reasonable price for anything here, 399 isn’t either. Anything and everything can be had for under 400k with most avail for under 300 if you look hard enough. If she tried to negotiate a short sale the bank will slow down the foreclosure process but you don’t want to agree to allow showings without considerable rent reduction, like half off because it is a pain since shorts are usually priced very low and have many showings.

[temeculaguy]

dharma, you can run an online grantee search to see if she has beed given the nod or the not. You will need her first and last name, if a notice of default is listed you have at least 90 days, if the notice of trustee sale is there, better start looking at rentals this weekend.

http://www.enetwizard.com/shop/affiliates/11467_01/default.asp

just enter her name, last name first, no commas, this site only works for riverside county. You don’t need to buy the docs or subscribe to anything, just the knowledge of when and what was filed is enough to give you the info you need.

you can also go to foreclosure dot come and choose pre-foreclosures after searching by zip code, then organize the data by street name, if there has been a nod filed, your days are numbered between 90 and 120 of the nod.

I know Redhawk as well as anyone on the boards, let me know the tract name or Rancho and I can tell you what the best deals or sales have been but 499 is not a reasonable price for anything here, 399 isn’t either. Anything and everything can be had for under 400k with most avail for under 300 if you look hard enough. If she tried to negotiate a short sale the bank will slow down the foreclosure process but you don’t want to agree to allow showings without considerable rent reduction, like half off because it is a pain since shorts are usually priced very low and have many showings.

[temeculaguy]

dharma, you can run an online grantee search to see if she has beed given the nod or the not. You will need her first and last name, if a notice of default is listed you have at least 90 days, if the notice of trustee sale is there, better start looking at rentals this weekend.

http://www.enetwizard.com/shop/affiliates/11467_01/default.asp

just enter her name, last name first, no commas, this site only works for riverside county. You don’t need to buy the docs or subscribe to anything, just the knowledge of when and what was filed is enough to give you the info you need.

you can also go to foreclosure dot come and choose pre-foreclosures after searching by zip code, then organize the data by street name, if there has been a nod filed, your days are numbered between 90 and 120 of the nod.

I know Redhawk as well as anyone on the boards, let me know the tract name or Rancho and I can tell you what the best deals or sales have been but 499 is not a reasonable price for anything here, 399 isn’t either. Anything and everything can be had for under 400k with most avail for under 300 if you look hard enough. If she tried to negotiate a short sale the bank will slow down the foreclosure process but you don’t want to agree to allow showings without considerable rent reduction, like half off because it is a pain since shorts are usually priced very low and have many showings.

[dharmagirl]

Hi TemeculaGuy,

THANK YOU for that link!

She IS in default on at least one place a/o June 2007.

Do I have to pay to see which property it is? I’m worried that if she’s in default on one of her properties, she wont hesitate to do so on this one. What does she have to lose if she’s alreay “very upside down.”

Can I access this information publicly?

Thanks again.

[dharmagirl]

Hi TemeculaGuy,

THANK YOU for that link!

She IS in default on at least one place a/o June 2007.

Do I have to pay to see which property it is? I’m worried that if she’s in default on one of her properties, she wont hesitate to do so on this one. What does she have to lose if she’s alreay “very upside down.”

Can I access this information publicly?

Thanks again.

[dharmagirl]

Hi TemeculaGuy,

THANK YOU for that link!

She IS in default on at least one place a/o June 2007.

Do I have to pay to see which property it is? I’m worried that if she’s in default on one of her properties, she wont hesitate to do so on this one. What does she have to lose if she’s alreay “very upside down.”

Can I access this information publicly?

Thanks again.

[dharmagirl]

Hi TemeculaGuy,

THANK YOU for that link!

She IS in default on at least one place a/o June 2007.

Do I have to pay to see which property it is? I’m worried that if she’s in default on one of her properties, she wont hesitate to do so on this one. What does she have to lose if she’s alreay “very upside down.”

Can I access this information publicly?

Thanks again.

[dharmagirl]

Hi TemeculaGuy,

THANK YOU for that link!

She IS in default on at least one place a/o June 2007.

Do I have to pay to see which property it is? I’m worried that if she’s in default on one of her properties, she wont hesitate to do so on this one. What does she have to lose if she’s alreay “very upside down.”

Can I access this information publicly?

Thanks again.

[Anonymous]

Dharmagirl,

Not legal advice, but I think the rule is that if your landlord sells, then the buyer has to assume the lease, (as long as they have notice). Check your lease, it may have an exception.

If the bank repossesses and forces a sale, I think the new buyer may be able to evict you after giving you notice to quit. See California Civil Code 1161a.

Right now you have significant leverage to negotiate. You might want to ask for assurances.

[Anonymous]

Dharmagirl,

Not legal advice, but I think the rule is that if your landlord sells, then the buyer has to assume the lease, (as long as they have notice). Check your lease, it may have an exception.

If the bank repossesses and forces a sale, I think the new buyer may be able to evict you after giving you notice to quit. See California Civil Code 1161a.

Right now you have significant leverage to negotiate. You might want to ask for assurances.

[Anonymous]

Dharmagirl,

Not legal advice, but I think the rule is that if your landlord sells, then the buyer has to assume the lease, (as long as they have notice). Check your lease, it may have an exception.

If the bank repossesses and forces a sale, I think the new buyer may be able to evict you after giving you notice to quit. See California Civil Code 1161a.

Right now you have significant leverage to negotiate. You might want to ask for assurances.

[Anonymous]

Dharmagirl,

Not legal advice, but I think the rule is that if your landlord sells, then the buyer has to assume the lease, (as long as they have notice). Check your lease, it may have an exception.

If the bank repossesses and forces a sale, I think the new buyer may be able to evict you after giving you notice to quit. See California Civil Code 1161a.

Right now you have significant leverage to negotiate. You might want to ask for assurances.

[Author]

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