No Contract With Renter Therefore No Credit Ding?
I have taken ownership of this house through a foreclosure sale. I do NOT have a contract with the renter in the house, but the previous owner obviously did. Since he is likely now to force me to evict him, am I able to ding his credit rating? If I can not ding his credit rating, I am seeing a no-lose situation for him. He gets free rent for a while and there is nothing I can do to his credit.
unlawful detainer suits are kept of public record and would be a ding the next time a landlord pulls his record.
If you bought the property at a foreclosure sale, you are under no obligation to keep this tenant. You do not inherit the tenant and you do not have to honor any prior lease the tenant had with the former owner.
Talk to your police department about having the "tenant" arrested for trespassing. Maybe you can have your attorney draw up a writ of possession (if there is such a thing) and have the police department execute it for you. Maybe, you could have this trespasser on the curb in a few days.
As a last resort, you can always fall back on an eviction but you need to get the ball rolling quickly before this individual becomes a tenant at will.
Quote:
On 2008-10-04 17:59, ITBInvestor wrote:
I only had one instance of a problem, so I showed him the executed deed. I asked for his lease. He refused. I gave him 4 hours to show it to me and said I was bringing a sheriff. 4 hours later he was gone. It was a bluff on my part, but it worked. Even if the occupant was able to produce a lease, you are not bound by it. Tenant leases are not binding on the new owner when the property is conveyed by foreclosure.
It appears that the lender, Accredited Home Lenders, has backed away from a lawsuit againt the sheriff and has agreed to give all the tenants up to 120 days to find suitable housing and to relocate.
The sheriff has also agreed to resume foreclosure evictions.
So, it now appears that the sheriff is the hero of this story. He did not lose his mind afterall, but seems to have been vindicated.
I suspect that any contempt of court charge for his refusal to execute the evictions will also go away.[ Edited by NewKidInTown3 on Date 10/17/2008 ]
I am direct to the Sellers mandate and would be very interested in speaking with you.
Thank You
Jennifer Moye Richards[ Edited by TheShortSalePro on Date 09/14/2008 ]
How are you able to obtain a credit line that large? Also in addition to that I work with a compiler that customizes REO packages, and also have another collegue able to provide a credit line extension for REO purchases as well. Send me a private message thru this website for more details or if you want submit info to contact me.