House being auctioned,

[Sunni]

A couple of days ago, my friends had a visit from an auctioneer, informing them that the house they are renting is going to be auctioned the end of this month. They have not heard from landlord, and have tried to contact her, no answers. (They live in MO)
They have 3 small children, and are wondering where they are going to go, and how long do they have. Do they have to be gone before the auction, or should they stay to see if the house sells, who buys it, and whether they get a notice to move?
Please Help!!!

 

[peter]

Well that all depends does she have a lease?

At least with a lease she can stay till it expires and if not she is a month to month tenant and is required to get a 30 day notice to move, so she has not gotten any notice, but she should start, looking for a new place.....

She should have a garage sale to raise some cash, maybe work a lot of overtime , and then use her security deposit for the last months rent.

She should be fine if she does the above....

 

[HomeGuru]

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Sunni:
A couple of days ago, my friends had a visit from an auctioneer, informing them that the house they are renting is going to be auctioned the end of this month. They have not heard from landlord, and have tried to contact her, no answers. (They live in MO)
They have 3 small children, and are wondering where they are going to go, and how long do they have. Do they have to be gone before the auction, or should they stay to see if the house sells, who buys it, and whether they get a notice to move?
Please Help!!!<HR></BLOCKQUOTE>

The owner probably has no money so a debtor such as the bank or City took over the home to sell it. Tell your friends to call the auctioneer and find out who is legally in charge ie. the banks' foreclosure attorney, trustee or commissioner etc. They need the status asap. Most likely they will not have to move prior to the auction but soon thereafter.

 

[HomeGuru]

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by peter:
Well that all depends does she have a lease?

At least with a lease she can stay till it expires and if not she is a month to month tenant and is required to get a 30 day notice to move, so she has not gotten any notice, but she should start, looking for a new place.....

She should have a garage sale to raise some cash, maybe work a lot of overtime , and then use her security deposit for the last months rent.

She should be fine if she does the above....<HR></BLOCKQUOTE>

Peter, in many mortgage loan foreclosure cases, even with a fixed lease, the court can order the lease terminated. In a judicial foreclosure action, the court gives the power of sale to a commissioner or trustee to sell the property and deliver the property free and clear to the Buyer. In order to do this, the commissioner or trustee acting in the courts behalf, must cancel the lease and force the tenants to vacate.

 

[peter]

even so she still should get a 30 day notice which she hasnt recieved, soshe should start packing, planning a yard sale, and work some ovetime seems to be the best answer

 

[Sunni]

Just a note to say Thank You all for your quick response! It's really nice to have a place to go to get educated advice!

 

[peter]

You're welcome.........

Take our advice and plan now..., pack what you dont need, sell stuff you dont need, maybe work some OT this month, conserve your cash, no eating out even a McD's, unless its a 2 for 1 coupon.....

You have some time to play with, but since you have a warning, there is no excuse if wait till the last minute.

Also think of using your vacation or personal days to move...moving is a lot easier during the week if you hire movers,and a little cheaper.... unless you are going to move with the help of 6 friends...