Question about foreclosure auction - Posted by Nate-VA

Real Estate Investing Auctions
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Posted by Nate-VA on July 19, 2007 at 07:30:49:

Thanks for the info.

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Question about foreclosure auction - Posted by Nate-VA

Posted by Nate-VA on July 18, 2007 at 13:50:17:

If you purchase a home at a foreclosure auction do you then have to evict the family? or have they already been removed from the property? If you have to evict, how long does that usually take?

Thanks,
Nate

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Re: Question about foreclosure auction - Posted by Natalie-VA

Posted by Natalie-VA on July 19, 2007 at 09:04:44:

Nate,

Just keep in mind that James gave you the timeframes for his state. Those timeframes are different in Virginia and might vary from county to county. Also, it’s my understanding that the law really doesn’t specify how to handle a “holdover tenant” from a foreclosure. I handle them similar to being a non-paying tenant. I give them a 5 day notice. When that’s up, I file an unlawful detainer. You get a court date in 18 to 21 days. The judge might give them another 10 days. When the judge grants you possession, you still have to order a writ of possession from the sheriff’s office which can take another week.

–Natalie

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Re: Question about foreclosure auction - Posted by James

Posted by James on July 18, 2007 at 14:07:05:

In Michigan, eviction (where I’m from) takes 26 days…+/- day or two (sometimes depends upon the judge…you’ll be surprised how many retar…smart judges are…).
That’s a normal 7 day notice saying they owed you money eviction.
There’s 3:

  1. 7 day notice to quit - behind on money owed
  2. Termination of Tenancy - 30 day
  3. Termination of Tenancy after a foreclosure - not sure if it’s this way in every state.

In Mi, the process is: Notice(s) sent, court date, 10 days to move/pay, writ for eviction.
If you foreclose, you don’t have to send the notices as they have already got them posted on the house about the foreclosure. You basically jump into the process at halfway mark - the 10 day period.

The foreclosure moves you to get a trial date immediately and then the tenants have 10 days. When you are getting the trial date, check the box where it says it’s for foreclosure and not rental. Everything else should be the smae though.

James