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Answers (9)
Best Answer
- Jonathan Shidler
- Contributions:14
Having done property management for a long time.
It is legal to still rent out a home that is in Notice of Default, in the process of trying to Short Sell, or even in Foreclosure
baring a few exceptions (for example, persons not making payments upon a loan within the first 12 months of a federally insured loan, while having renters within the property).
So long as the owners of the property are on deed/title, till it sells and changes hands. They are the owners and do as owners wish to do.
Ethical to do so?
Not really (unless they've spoken to the tenants and informed them of the situation)
Legal?
For the most part, Yes.
It is legal to still rent out a home that is in Notice of Default, in the process of trying to Short Sell, or even in Foreclosure
baring a few exceptions (for example, persons not making payments upon a loan within the first 12 months of a federally insured loan, while having renters within the property).
So long as the owners of the property are on deed/title, till it sells and changes hands. They are the owners and do as owners wish to do.
Ethical to do so?
Not really (unless they've spoken to the tenants and informed them of the situation)
Legal?
For the most part, Yes.
- Ryan Bos, "ryanbos"
- Contributions:131
If a lease was in place prior to the NOD being filed then it shouldn't be a problem in any area of the US
- brklyfn
- Contributions:4
I am the one that initally wrote this question. I have talked to the new kids that moved in about their parties already, they dont care. I have gotten the cell # of one of the kids who moved in, so I can call him when they are getting too loud...it goes to voicemail. I have called the police when last saturday's party went until 4:40a.m....I called at 2:10a.m. they never came out. On a weekend loud parties are not high priority for SDPD.
- Chris Boudreau SFR GRI ABR, "Chris Boudreau"
- Contributions:17
Yes, it is legal, but not ethical if the sellers don't disclose that the buyers probably won't be able to live there for long term. As far as noise, the tenants still have to abide by the same noise compliance laws as everyone else, and the local police department can help if your neighbors can't 'help' themselves.
- Angie Boggeman, "angie boggeman"
- Contributions:469
Listing a home that results in a short sale does not change the fact that the sellers own the home and can rent it out. You could check to see if there is an municipality occupancy for the renters.
- Cory La Scala, "San Diego CA Realtor"
- Contributions:419
Unfortunately for you, it is legal, since it's still the owner's home. Contact the police department for noise complaints, hopefully they will help you.
- Sharon Sanchez, "Ace Short Sale"
- Contributions:10
Yes it is legal to rent a home that is being sold via a Short Sale. The current owner still owns the property and still possesses all the rights
(s)he had prior to deciding to do a Short Sale.
As far as the party everyday tenants are concerned, contact the owner and express your concern. If that doesn't work, then contact your local police department. Maybe they can help.
Good Luck.
(s)he had prior to deciding to do a Short Sale.
As far as the party everyday tenants are concerned, contact the owner and express your concern. If that doesn't work, then contact your local police department. Maybe they can help.
Good Luck.
- Linda Rozales, "Lrozales"
- Contributions:245
Technically, the homeowner still owns the property until it is sold or foreclosed.
- wetdawgs
- Contributions:26833
Yes, it is legal to rent a property that is for sale and may be short.
Is it legal in Calif if a home is in short sell that the owners are still renting out the property
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