Answers (8)
- Josie Ranjbar, "josiesellsandiego"
- Contributions:56
Tiyodi makes a very good point here. Definately, contact the Department of Fair Housig and Urban Development before making a final decision. Having said that, I would also defer to Yehuda here in that a short sale process can take quite some time. If our tenant is in a month to month lease, you may be able to wait to give notice until you have an acceptance of an offer from the lender.
If the current tenant has been there for at least 12 months, then a 60 day notice is necessary either from the the current owner or the new owner after the property is transferred. If your tenant is in a month to month lease which has lasted for less than 12 months, a 30 day notice is probably all that is required. Again, check with FHDC to be sure.
If the current tenant has been there for at least 12 months, then a 60 day notice is necessary either from the the current owner or the new owner after the property is transferred. If your tenant is in a month to month lease which has lasted for less than 12 months, a 30 day notice is probably all that is required. Again, check with FHDC to be sure.
- Tiyodi Taylor, "Divinepm"
- Contributions:45
Your best bet is to also contact the Fair Housing Dept. of California. Normally it does depend on how long they have stayed at that residence. 30 day notices aren't legally anymore UNLESS it is specified in their contract agreement. If not it has to be a 60 day notice to vacate especially after being there for more than 12 months. It also depends on what county too. In the Inland Empire you have more room to work with your tenants than in LA county! I believe regarding a foreclosure it is 90 days now! Just check with the FHDC to make sure!
- Yehuda Elmakias, "Yehuda Elmakias"
- Contributions:6
you should wait for the bank to accept the offer. I assume you mean " sign a short sale" listed the real estate, the process for short sale can take sometime few months, i will wait for an offer that only you accept but the bank accept before giving notice to your renter to move out, i assume he/she paying the rent
- Bobby Stefano Trusted Advisor, "Bobby Stefano"
- Contributions:75
You may first want to contact a real estate lawyer or get a quick update on the laws. In a nutshell per the original tenant-landlord agreement.
- Simon Mills, "Mills Realty"
- Contributions:1870
As the buyer you aren't able to give notice until you are the owner of record. The current owner could give the notice at anytime assuming that the lease is month to month.
- Linda Strasberg, "L Strasberg"
- Contributions:2563
Has the lender accepted the terms of the short sale? Is the buyer aware that there is a tenant inside with the right to be given a 30 day notice to vacate. Was the property purchased as an investment rental property with the intention of keeping the tenant in there? Was the property purchased as a primary residence for the new owner?
- Chris Boudreau SFR GRI ABR, "Chris Boudreau"
- Contributions:17
In California, landlord/tenant law has a lot of pieces to protect the tenant. You need to check and see how long they have been living there to determine if you need to give them a 30 or 60 day notice, and when you can give notice exactly is really determined by when you become the owner (you can't effectively give notice on a property that is not yours).
A lot of new law came into effect in California in January, and I admittedly don't know them all. Your safest bet would be to check the Department of Real Estate's website (www.dre.ca.gov) for the current laws and the best way to handle the situation.
A lot of new law came into effect in California in January, and I admittedly don't know them all. Your safest bet would be to check the Department of Real Estate's website (www.dre.ca.gov) for the current laws and the best way to handle the situation.
- wetdawgs
- Contributions:39568
Usually the 30 day notice starts counting the day of closing (when money transfers). This probably needs to be a written notice, not just an assumed notice.
If you are the renter, you can phone up your state's landlord/tenant hotline for advice.
I sign a short sale with renter living in monthly lease agreemt, when 30 d notice to vacate starts?
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