tenants rights during short sale?
Submitted by dorcelyflo
from NJ
- 01/25/2009 - 6:29am
There is a realtor that came to us claiming to represent our landlord and asking for copies of our apartment keys to show the property to potential buyers for a short sale. We knew the property was going into foreclosure b/c we received a nice note from the landlord about 4 months ago saying we could stop paying rent. Our lease was for a year, but had expired by the time this happened, so basically we were living month to month at the time. And up until then we had paid all our rent on time with no problem even though the landlord never completed any repairs or maintained the property. The note said the landlord would be filing for bankruptcy. Luckily we do not have any security owed, but we have not heard anything from him since.
We had been getting solicitation letters from lawfirms about the house being in pre-foreclosure, but this week a couple of realtors have come to the house asking to help convince the landlord to do a shortsale. One of them claims to be already working with our landlord and wants us to help him by giving him copies of our lease and keys. I don't know how, but he already has a copy of the front door to the building and one of my apartment key locks. My question is, can realtors force us to give them unlimited access to our apartment with only an hour or two notice?
We are willing to reasonably accomodate them, but he says that any realtor in his agency could come at any time to show the place to any interested buyer. I'm just not comfortable with that arrangement and want to know whether NJ law provides any protection for tenants.
We understand we don't own the property and want them to be able to show it within a fair schedule, but are not sure how to approach it. We have not seen any paperwork from the bank saying that the house was sold, but we suspect that this realtor is not being completely honest with us. Please help!
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I'm not an attorney, but it is HIGHLY unlikely that they would have any right to enter the property without at least 24 hours notice, and even then for limited reasons. Typically tenants have the right of "quiet enjoyment" during the term of their lease, and have no obligation to allow unlimited showing of the property to buyers.
That said, given the "nice note" letting you stay without paying rent, you might try to be reasonably accomodating. Perhaps letting them take photos (be careful they don't show valuable possessions), maybe 1 open house day, and an inspection by a buyer with a signed contract. Just make sure the Realtor is legit and actually has a signed listing agreement with your landlord.
this is what the laws say.....
It is still required that the tenant receive at least 24 hours notice of each intended entry. Trying to give oral notice -- as in, "I called yesterday, but no one answered" -- is not sufficient.
there is your answer.... look under tenants right in a shortsale.. google it n u'll c!! good luck!
i would not give my keys to anybody but the landlord. Dont ever do this again
at least you don't have to pay rent no more, we were still payien our rent and they made us have open houses 2 o 3 days a week, some times the realtor didn't even came and had all that people comming over again and again every day, asking me if they could see the house even that wasn't an open house day and if I said no, they would tell me how mean I am, cause they came from a far city... my landlord was able to do a loan modification so we stayed but now, we were just told that bank didn't aprove so they will go for the short sale again, I want to move as soon as I can, don't want to go trough all that again with no rights... cause we are in a month to month agreement... landlord hasn't pay her mortgage in 2 years so she has been putting in her pocket all the rent money, and she is still collecting from me, even that she doensn't pay her mortgage... the stove is not working and she doesn't want to fix it...
I had a realtor call me last night and stated that she will be coming back to get the keys to my unit, because of a short sell, she never once stated what company she was with, or even to offer me property . i currently have a lease and i need to know what are my recourses in this case , do i still pay DEC rent ...
I just moved in to a house this month, I am on a month to month. Well we find out that the house is going into a Short Sale. I am wondering what my rights are, do I have to move and is a short sale the same as a foreclosure ? I live in Ca
You are on a month to month tenancy so a short sale is like a traditional sale. The owner would need to give you 30 days notice (based on the terms of your month to month agreement). If the property went to a trustee sale then you would be given a 90 days notice to vacate.
Keep in mind that a short sale can take a very long time to close so you may have more time than you think.
I'm rented a two bedroom basemnt apartment for 11 months. I was paying month to month with no lease. The landlord put the house up for sales with out me knowing.
One day I came home from work an notice my door and the lights were on in every room. So i confronted the landlord 5 minutes aftter i calm down and ask her wtf is going on. she replies omg i'm so sorry but we haven't been able to keep up with our mortgage... 3 weeks later they moved out. What are my right as a tennant without a lease?
It is not illegal for a landlord to list the property. It is illegal for them to enter without giving proper notice.
If the house in no longer listed then the bank will have to foreclose on the property. Depending on where in the foreclosure process the property is will depend on how much time you have left. Once the lender forecloses then ho much time you have depends on the state that you live in. If you live in CA then the bank would have to give you a 90 day notice.
Contact a local realtor to check on the current foreclosure status.
I have been renting month to month for almost a year. My a/c broke last week and after a few days trying to get the owner to return my call for repair, she calls and tells me she is having someone come by and inspect the TH due to flood insurance being to high at the same time she stated the ac repair man would also come. Well, it turned out it was not the flood insurance people but several realtors with clients stating the TH was for sale. I googled the property and it is listed as a short sale. What are my rights, does that mean my landlord has stopped paying the mortgage? Do I have to continue to pay rent if she is not complying with her obligations with the bank? Where do I stand?
Typically a landlord would tell you if they are listing the property since they would want to potentially show the property to prospective buyers and they would need to give you advances notice under the terms of your rental agreement or lease. If you have a lease the new owners would need to honor the terms of your lease. If you are on a month to month agreement the landlord the landlord can give you a 30 day notice to move (unless your agreement states something different). Regardless of whether or not they are current on the payments you still have a legal obligation to pay rent while you are living in the property. If the property did go to trustee sale you would be given a 90 day notice or the bank or investor would negotiate a cash for keys agreement with you.
I suggest contacting a local realtor who specializes in distressed properties and they can tell you if the property is in default. This will at least give you a better understanding of how long you may have in the property.
I am on a similar situation. I started my 1 yr lease May 1, 2010 and now the owner told me he didn't qualify for a loan mod although he was in trial payments. The problem is that I live in a single family home and I'm sure that whoever buys the house will want to live in it. So what are my rights? Why do I have to work for the realtor or the bank or the owner for free by showing the house and keeping it spic and span? Who will compensate me if the house sells before May 2011??
If the property sells the new owner would honor the terms of your lease. If the property goes to trustee sale and the Notice of Default is filed after the start of your lease (check to see if the Notice of Default has been filed) then the bank or the 3rd party investor would have to honor the terms of your lease. If you were on a month to month agreement and the property sold in a traditional sale you would be give 30 days notice. If you were on a month to month agreement and the property went to trustee sale you would be given a 90 day notice.
Typically leases allow for landlords to enter the property upon notifying the tenant in advance. This would include showing the property for sale.
My husband and I stay in Desoto County (MS) and have been renting for a year. We found out that our Lnadlord had not been paying mortgage for a least 8 months and the house is in Foreclosure pending status because he is trying to do a short sale, so since July we have been Month to Month. The Constaple came and served papers for us to pay rent or to go to court, and we know this is only to get us to move so he can show the house cause he has no time to waste. My husband and I do plan on making the court hearing with all our proof that he has not been paying and documents. My question is do we have ANY rights. Is there any thing that we can do are say when we go to court that would be in our favor.
We do not cover MS but in CA the rent is due based on the terms of the rental agreement regardless of whether or not the owner is behind on mortgage payments. You are paying rent in exchange for the occupancy of a home and that has been provided to you so rent would still be due and payable under the law. (at least in CA). You will definitely want to check with a local realtor or attorney in your area for specific advice regarding the laws in MS.
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