Profile picture for user0671113

Is it legal for a landlord to sell a home if it is in pre foreclosure?

If i'm buying a home from a landlord and it's under pre foreclosure also, i believe it's one of your homes is there anyway you can give me a call. 
  • June 07 2013 - Gary
  • 0Yes

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Answers (3)

Yes, they can still sell the home. As long as they get the funds to clear the amount owed they are ok. That or they can do a short sale. The only hard part of that is depending how long out it is from foreclosure. Now landlords! I take it you are renting the home from him or someone you know is. As soon as it is foreclosed on you do Not pay rent to him. The bank has to honor any lease that is in place. Then you make the payment to bank and not the current landlord. Same thing in a Property Tax Foreclosure, you always have to pay the new beneficiary other wise they can evict you for that. But If you have a 10 year lease for $400 a month they have to honor it. Now with a term like that they might buy you out. This way you leave and they can sell it.
  • June 08 2013
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Profile picture for JoshBarnettREIB
Yes this is legal.  Until the hammer falls, the owner still has all RTI to the property.  
  • June 08 2013
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Profile picture for Outer Banks N C
If you own something it is always legal for you to sell it as long as it is a legally owned item, unlike drugs or a bomb. Of course they can sell it. Pre-foreclosure is a slang term for a short sale and nothing more. If they own it, they can sell it, but do you want to buy it? If it is being sold as a short sale it likely is worth less than what is owed otherwise why is it in short sale?????????????? So if it is worth less than what is owed, you would have to pay more than it's worth to buy it and that would be foolish!!!!!!!!!
  • June 08 2013
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