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Answers (4)
- Cindy Leventhal, "TheLeventhalGroup1"
- Contributions:59
The listing agent should have knowledge of whether the home is in foreclosure or not, but you can also double check on your own to be on the safe side. You should check your county's public records, that should be easily accessible online.
- Madeline Schaider, "LivinginMarin"
- Contributions:287
That's a prudent and pertinent question for sure, more so in some states/counties than others. If the house is listed with a real estate broker/company, they should be your first line of defense. If there is a listing agent involved, they should have first hand knowledge of the owner's situation and additionally, can have the local title company obtain a title report for you. If not, you could hire a real estate agent to investigate the property and the owner's situation for you. You want to look to see if there have been any Notices of Default recorded, bankrupcies, etc Also be aware of any liens that a Homeowner's Association may have levied if the property is a condo or townhouse, or PUD.
In addition to my answer and the other ones, it's a good idea to ascertain what the sellers owe on the property. If their loan is in excess of what the value of the house is, and the rent does not cover the projected mortgage, taxes, insurance, and/or HOA fees, you could be in a situation where the seller becomes financially burdened by the home, and for various reasons, is unable to make the mortgage payments. If it's not in foreclosure whent you start the lease, you could be at risk for this happening during the term of the lease. Just enter into any lease with your eyes wide open.
Hope this helps.
In addition to my answer and the other ones, it's a good idea to ascertain what the sellers owe on the property. If their loan is in excess of what the value of the house is, and the rent does not cover the projected mortgage, taxes, insurance, and/or HOA fees, you could be in a situation where the seller becomes financially burdened by the home, and for various reasons, is unable to make the mortgage payments. If it's not in foreclosure whent you start the lease, you could be at risk for this happening during the term of the lease. Just enter into any lease with your eyes wide open.
Hope this helps.
Since Laveen is in Maricopa county:
go to www.maricopa.gov click assessor's page, advanced search, and input the property address. This will give you the parcel number, and the owner's full name. Go back to maricopa.gov, search using both to see if either one shows up an NTR (notice of trustee sale) filing.
Alternatively, an agent can check the parcel direclty, as the tax info from the mls links to it, so you can email me any property your curious about, and I'll check it for you.
All of this will only tell you if a trustee sale has been filed. Obviously, your landlord could have stopped paying, and simply not had action filed yet. It takes 90 days minimum from the date of filing, until the actual sale, and you have protections if you have a written lease, the new owner will likely have to honor it at least perhaps up to a year.
go to www.maricopa.gov click assessor's page, advanced search, and input the property address. This will give you the parcel number, and the owner's full name. Go back to maricopa.gov, search using both to see if either one shows up an NTR (notice of trustee sale) filing.
Alternatively, an agent can check the parcel direclty, as the tax info from the mls links to it, so you can email me any property your curious about, and I'll check it for you.
All of this will only tell you if a trustee sale has been filed. Obviously, your landlord could have stopped paying, and simply not had action filed yet. It takes 90 days minimum from the date of filing, until the actual sale, and you have protections if you have a written lease, the new owner will likely have to honor it at least perhaps up to a year.
- Maria Riggio, "ArizonaRealtyGuru"
- Contributions:44
Tenant's Rights
A few suggestions:
Look in the local paper, Lenders may be required to post upcoming foreclosure auctions (Trustee Auction, Sheriff's Sale, etc.); certain laws specify timeframes tha forclosure information is required to be publicly listed. Foreclosures by Advertisement.
Also, with regards to Foreclosure by Judgment, look into information at the County Recorders Office. If there are judgments/liens attached, it may be noted as a foreclosure, depending on circumstances.
Additionally, visit your local, '.gov.' website to see if they have a section for Housing information and Resources, more specifically about Tentant's Rights (link above).
These are only a few suggestions. Definitely do your research!! Hope it helps a bit and GOOD LUCK!! M~
B4 entering into a lease in a volatile market, how can I be sure home is not in foreclosure?
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