Profile picture for user85778930

Is is possible to lease a pre foreclosure? How would I go about doing this?

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 21 2013 - Wilmington
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (4)

Profile picture for wetdawgs
Why are you interested in lease a pre-foreclosure?   It sounds like a lot of headaches (including legal limitations).

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 21 2013
You might be able to, but it would carry significant risk for the owner, including many situations where they might commit fraud. If you knowingly participate in their fraudulent activity, you could also be at risk. It is wise to consult an attorney before taking possession of a property so that you fully understand your legal rights and obligations. It would be especially true in a situation like your contemplate. 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 21 2013
If the homeowner is not paying the mortgage anymore and then collects rent and keeps it.....one word....FRAUD!  
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 21 2013
Technically, yes.  Practically, why would you want to lease a pre-foreclosure?
If it truly a "pre-foreclosure" then the current owner still owns the home and you would need to execute a lease with the owner.  The rent would go to the current owners.

If and when the bank forecloses, there are certain protections for tenants that are in a current lease, but it is a tenuous tenancy at best.

Your best bet is to consult an attorney-but my suggestion is to find a non-distressed homeowner looking to rent their home.  Why put yourself in a situation that could result in you being forced to move quickly?
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 21 2013
 
Related Questions
Hi, I wanted to know about the short sale on the house on 713 Paisley Court.
Profile picture for Ed & Sheila Rudolph
Latest answer by Ed & Sheila Rudolph
July 08 | 1 answers
Is is possible to lease a pre foreclosure? How would I go about doing this?
Profile picture for wetdawgs
Latest answer by wetdawgs
November 21 2013 | 4 answers
What is the "Make Me Move" option and are the houses listed under that program for sale?
Profile picture for Sharon Lewis
Latest answer by Sharon Lewis
October 25 2013 | 1 answers
My site does not show up in a search by price.
Profile picture for user5475722
Latest answer by user5475722
June 23 2013 | 2 answers
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 920 Summerlin Falls Ct, Wilmington, NC Home For Sale
    920 Summerlin Falls Ct, Wilmington, NC 28412

     For Sale: $143,500

    • Beds: 2
    • Sqft: 1188
    • Baths: 2.0
    • Lot: 2178
  2. 2508 Tonbo Trl, Wilmington, NC Home For Sale
    2508 Tonbo Trl, Wilmington, NC 28409

     For Sale: $385,000

    • Beds: 3
    • Sqft: --
    • Baths: 3.0
    • Lot: --
  3. 2525 Tonbo Trl, Wilmington, NC Home For Sale
    2525 Tonbo Trl, Wilmington, NC 28409

     For Sale: $365,000

    • Beds: 3
    • Sqft: --
    • Baths: 3.0
    • Lot: --