property bought from foreclosure auction

Submitted by Jenifer from CA - 09/29/2011 - 8:41pm

I would like to know who pays me my deposit back old owner or new owner after the property was bought from an auction and I decide to move?

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Comments

Submitted by Michelle - 09/30/2011 - 12:01pm

Hi Jennifer,
The deposit is held by the prior owner. Most lender or investors will offer a cash for keys incentive that will act like a deposit and help you with moving costs. You can take the prior owner (if you can find them) to small claims court to get your deposit back.

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