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We are renters of a single family home in ca. we were given notice a couple of months ago through the property managment company that the homeowner's were going to list the house for sale. we are on a month to month lease, and we have been cooperating with the homeowner's agent for showings. the house is being sold as a short sale. i was curious if anyone had any insight on typically when we would be given our 30 days notice to move once the house has had an offer on it. does it vary by seller? or is it typically closer to when they have a "hard" close date they would do 30 days prior to that?

Short sales take forever. Until the house closes only your current landlord can put you on notice. We have no way of knowing if he intends on letting his buyer figure out what he wants to do with you after the sale, or if he's going to give you notice at the buyer's request. What the buyer wants is going to depend on what their intentions are. If they're buying the house the be their home, then chances are they'll want you out by closing or ASAP afterward. As the previous poster mentioned, if they're an investor they may be happy to have a tenant in place and offer to enter in a new agreement with you.

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I am supposed to close on a house on monday. the previous owners have a renter that has not moved out. i plan to give a 30 day notice, make the renter pay weekly (prorated daily with a $200/mo increase on his current agreement) and i also plan on doing major repairs to the property asap. i am planning on having him sign the document that states these things. if he doesn't vacate the property by the notice date, or refuses to sign the document, where will that leave me? he was given a verbal notice that the previous owners were selling 4 months ago. when i got the appraisal back, there is no indication that he is moving (no boxes, trophies on the walls, etc.). if i am forced to evict him, can he fight it and how long can that take? please, if you have any experience in this sort of thing i'd love some guidance. thank you! he is currently on a month to month with the previous owners of the house that will expire tomorrow. then i have to give him my agreement

1. You can NOT increase the rent without giving a 30 day notice of increase. 2. You can NOT interrupt the tenants right of "quiet enjoyment" of the premises with constant loud repairs. 3. The month to month with the current owner remains in force until the end of this month. Tenant does not legally have to enter into any agreement with you until then. 4. Depending on your area, an eviction can take weeks or months...depending on if the tenant fights the eviction. Advise: Read up on your local landlord/tenant laws before you do anything.

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Tell the seller you want to: buy his house for a rental property. do a cash closing quickly but you want the standard 45 day inspection period. get renters in the house as soon as possible to start getting income. show it to renters or possibly buyers. when you fill out the contract include those items and be sure the contract is assignable. by the nature of a contract, it is assignable unless otherwise specified. with the contract at the title company you are free to market the property without a relator's license. list it for sale and when you find an investor, assign the contract and collect your profit. easy and risk free. question: what happens if i can’t sell the house before the 45 days is up? you just start giving excuses as to why you don’t want to buy the house anymore. this excuse can be anything from financial strain to noticing new things or most of the time you don’t need an excuse at all. as far as the seller knows, you just changed your mind. you never go to closing. question: why would a seller allow me to do this? the seller believes you are buying his house. he is just waiting on the closing date. there should be no reason why the seller should suspect anything is wrong, and don’t give one. after you cancel the contract, you will have no further contact with the seller. your contract was legal and you had right to cancel for any reason.

this is the dumbest thing ever. the seller doesn't care what you are buying the property for. knock the house down and put up a circus tent for all I care. if you break a P&S contract before closing, you lose your deposit. and you can't sell or rent a house that isn't yours yet, you realize that right. if you don't have the title and your name's not on the mortgage, it's not yours to sell. duh.

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How do i start? i rented a home last october from a woman who seemed nice. the place needed work which she assured me she would have finished before i moved in, blaming the previous tenant. to help her i gave her the first month's rent and deposit more than a month in advanced (since i had to give notice to my current landlord anyway) the place was a bit bigger and closer to my son's school and since i am wheel chair-bound and my son is very young i need to be close to him. if you are a parent you understand. after all the moving cost and rush to clean i asked the new landlord directly if she had any plans to sell, was current with mortgage and was she ready because the place was a mess. her answer to the questions (both before and after i signed a lease) was that the place would be ready and all she wanted was a steady reliable tenant. i assured her that i was that person. we moved in to find the place still and shambles a room full of garbage bags piled 4 ft high, broken washer and dryer and broken toilet. i paid someone to fix these things and took it out of the rent (after telling her i would) the first month passed and she called me on the 1st to tell she did not have a check. i said i had not even put it in the mail she then asked me to send the check two weeks ahead of due dates and she would deposit them. i agreed. this didn't bother me as much as i noticed this woman did not deposit my checks she cashed them. then this month i am contacted by the bank. she is in foreclosure! i am offered many options i ask for a lease and send a bid for the house. now the get a notice that they are proceeding with an eviction simultaneously. oh and the new landlord (who is now the ex owner) refuses to give me my deposit and the rent for january (when she lost the home the couple of days) i normally don't panic but this is a great deal of craziness and none of it is of my own doing. my mistake was moving into a new place. are there no laws to protect tenants in this situation or are we (renters) expected to move about like nomads at the mercy of the honesty of the landlords? in response to some confusion. i wasn't aware of anything. i gave her the money early to help with repairs. i found the place a mess when i moved in and it was too late. and the house was foreclosed in already. it was foreclosed on the 4th of january. my new landlord means that she just rented the place to me in october. because the property was foreclosed she no longer owns the place and is now my ex-landlord. i hope that clears things up.

Here's the way it works: Last July, President Obama signed the Protecting Tenants of Foreclosure Act of 2009, which requires the tenants in a property in foreclosure to be allowed to stay in the property at the current lease terms for up to 90 days after the property is sold. That would be 90 days from the date of the foreclosure auction or 90 days after the close of escrow, if the property was not sold at auction and the bank sold it on the open market. The only caveat is if you don't meet your obligations to pay your rent or do something else that gets you evicted before the 90 days is up, including before the sale of the property, they can evict you. But, if you're current on your rent and there are no eviction proceedings by the original landlord against you, you don't have to move out until 90 days after the property is sold as a foreclosure. And, that could be months away yet. If the bank says they're evicting you before that 90 days is up, let them. When they submit an eviction complaint to the courts, you have 5 days to respond in writing. You will then cite the Protecting Tenants of Foreclosure Act of 2009 as a reason why this eviction is unlawful. And, the judge should rule in your favor, basically making the eviction illegal.

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I'm in a terrible situation. it's a very long story but i'll try to keep it short. my husband and i bought a house about a year and a half ago. since then my husbands business was sold out and we took a huge pay cut. we are doing the best we can but the house payment is eating us alive. in october we decided to put the house on the market and try to get out that way. success, we got an offer and closing date approached quickly. my parents opened up there super nice rental house for us(they had to give notice their really great longterm renters) and we made plans to move in......well the buyer backed out on closing day. i didn't feel like i could leave my parents high and dry and we already had everything packed and ready to go so we proceeded with our plans to move. well now its january and still no buyer for our home. we can't afford to pay both my parents and the mortgage so now i'm almost 3 months behind on the house. now i'm stuck...i don't know what to do...i'm getting pressure from everyone around me and i'm going crazy. my husband thinks we need to move back to the other house and try to make it by. that puts me in a terrible position with my parents....they have sacrificed to much to make this work and i feel like it would be a slap in the face to leave. my husband wants to go back to school but feels that if we forclose that will now allow him to do so for a long time... i'm going insane...we have had 2 major buyers fall through now. i've researched short sales but you have to be able to prove financial hardship...i don't think they'll see renting out a second house as a viable expense.

Suck it up with your parents.

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Tell the seller you want to: buy his house for a rental property. do a cash closing quickly but you want the standard 45 day inspection period. get renters in the house as soon as possible to start getting income. show it to renters or possibly buyers. when you fill out the contract include those items and be sure the contract is assignable. by the nature of a contract, it is assignable unless otherwise specified. with the contract at the title company you are free to market the property without a relator's license. list it for sale and when you find an investor, assign the contract and collect your profit. easy and risk free. question: what happens if i can’t sell the house before the 45 days is up? you just start giving excuses as to why you don’t want to buy the house anymore. this excuse can be anything from financial strain to noticing new things or most of the time you don’t need an excuse at all. as far as the seller knows, you just changed your mind. you never go to closing. question: why would a seller allow me to do this? the seller believes you are buying his house. he is just waiting on the closing date. there should be no reason why the seller should suspect anything is wrong, and don’t give one. after you cancel the contract, you will have no further contact with the seller. your contract was legal and you had right to cancel for any reason.

Stan This is a site for ethical and the law. Your 'plan' is both unethical, and probably illegal. During the escrow you would need to make a deposit... I would demand that it be both sizable and non refundable, and that you would have to meet hurdles in order to obtain a new mortgage,. You would need to be both qualified and able to meet the conditions. Secondly, you would be represented by a Realtor. That Realtor would be charged with seeing that you met the terms and conditions of closing the escrow . Your plan is transparent. As a seller, at best I would only give you a first right of refusal on any 'real' offer I might receive during the escrow process. That way IF I got a real offer, you would either have to pony up and remove all the contingencies or the offer would be nullified. In any event without performance you would probably be liable, and would lose your deposit. Soccerref

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The scam is: how to do real estate deals with no money and no risk tell the seller you want to buy 3-4 houses for rental properties. tell the seller you want to do a cash closing quickly but you want the standard 45 day inspection period. then ask them how fast they can close. tell the seller you want to get renters in the house as soon as possible to start getting income. tell the seller you want to show it to renters or possibly a buyer. when you fill out the contract include those items and be sure the contract is assignable. with the contract at the title company you are free to market the property without a realtor’s license. list it for sale and when you find an investor, assign the contract and collect your profit. easy and risk free. if you don’t sell the house before the 45 days is up, just start giving excuses as to why you don’t want to buy the house anymore. this excuse can be anything from financial strain to noticing new things. most of the time you don’t need an excuse at all. as far as the seller knows, you just changed your mind. you never go to closing. why would a seller allow me to do this? the seller believes you are buying his house. he is just waiting on the closing date. there should be no reason why the seller should suspect anything is wrong, and don’t give one. after you cancel the contract, you will have no further contact with the seller.

Most sellers who entertain this scam will see right through you in a second. It appears that you are hustling, and like most hustlers you think about nickels and dimes. If the property was priced to sell and you had the cash then you would be able to just purchase the property outright. Therefore your no money down scheme would fall apart because as a seasoned seller I would then ask you for proof of funds. Additionally, I verify with your bank the funds are in the account. As well, most most attorney's would strike any language in the sales contract which allows assignment. This ploy would not allow you to purchase my, Brooklyn Bridge" for a dollar. Finally, any seller will require at least 5% down-payment or deposit with the contract and all language in reference to mortgage contingency will be removed since this is a cash deal. language will be inserted warning you "time is of the essence". If you failed to close in the 45 days your deposit will not be returned. The above pretense will work for some people I am sure. After all, there are still people on craigslist renting a 4 bedroom apartment in Trump Towers from some African in Nigeria who speaks no english and has the last name Lee. But welcome to the real world. There are a lot of smart people like you in these situations http://www.nbcnewyork.com/news/local-beat/FBI-Massive-NY-Mortgage-Fraud-Round-Up-Underway-96556234.html and in the end you all go to jail. There's always a smarty pants who feel they can beat the system. Hey, if you see Bernie Madoff at the Astoria where you will both be staying at the pace you are going please tell him Hello.