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Sold at foreclosure auction to 3rd party. Now what?

Discussion in 'Deed in Lieu of Foreclosure - Do You Need Help to ' started by CaWalker, Jun 21, 2010.

  1. CaWalker

    CaWalker LoanSafe Member

    I haven't been to this forum in a long time. But I wanted to update you all that its finally over. I could have stayed a bit longer by doing another modification attempt but decided to let it go.

    The sale date was today, June 21 and the bank tells me that it was sold to a 3rd party.

    So what happens now? I was told by the bank that the buyer will contact me soon. I think I remember reading about a California law that allows me to stay in the house for at least 3 weeks without any problems. Can anyone shed any light on this?

    Has anyone heard of Cash-for-keys from a 3rd party buyer? I was looking forward to some cash for moving out early.
  2. SurfwhenUcan

    SurfwhenUcan LoanSafe Member

    If you want to stay longer than 3 days, you've got some work to do. This should help:

    <TABLE border=0 cellSpacing=0 cellPadding=0 width=707><TBODY><TR><TD width=705>California foreclosures are usually non-judicial. Because no judicial action is required for foreclosure, the eviction process is a separate action which requires the filing of a lawsuit for possession of the property. Best Alliance routinely handles eviction related matters for banks, lenders, individuals and associations after foreclosure.

    California law permits an owner occupied unit to be served with a 3 Day Notice to Quit. In the event that such unit is occupied by someone other than the Trustor, a 30 Day Notice to Quit is required.

    Once served, such notice must expire before the commencement of any action in Unlawful Detainer. Once an Unlawful Detainer is filed, it must be served on the defendant/tenant. If personal service is available, such defendant has 5 days within which to respond to the complaint. If not able to serve personally, an order to post and mail such complaint must be obtained from the court. Such post and mail service will add a minimum of 15 days to the response period.

    Once served, the matter can take two courses. One, being where the defendant does not respond to the complaint. In such an event, a default is requested and a judgment for possession should be available within 10 days of such default. Such judgment is than forwarded to the County Sheriff for execution.

    If the Defendant does answer the complaint, a trial request is forwarded to the court and the trial in the action is ordinarily set within 20 days of such request. Once judgment is entered by the court, such judgment is forwarded, in a form of a Writ of Possession, to the Sheriff for execution.

    Thus, an eviction that does not involve any delay tactics by the defendant should be completed within 30 to 40 days after the expiration of the Notice To Quit.

    As indicated above, once a judgment for possession is obtained, it must be forwarded to the County Sheriff for execution. The Sheriff could take approximately three weeks to actually conduct the lock-out. Adding such additional time to the time necessary for an unlawful detainer action, an Unlawful Detainer action in which the defendant does not use any delay tactics takes approximately one and a half to two months to complete.



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