Our landlord is facing foreclosure and is short selling…

…I want to accomodate but I don’t want it to become invasive. Can I put a limit to the number of daily showings? What kind of notice am I entitled to move out?

Hi Mary

As a short sale listing agent I can tell you that your situation is not at all uncommon.

Overall it appears that you were not in receipt of all information; only as it unfolded, which is not your fault. You are to be commended for accomodating your landlord because many tenants make it difficult for the landlords to smoothly close the sales under these conditions.

Notice I say “smoothly”. The reason is this, although you can make it difficult, California tenant/landlord law states that once the property goes into escrow to exchange ownership, you can then be given a 30 day notice to vacate. The outcome of fighting that is just futile.

You are doing the best thing for your family by cooperating. As far as showings, you can use your one good card and let the listing agent know what is more comfortable for you. Keeping in mind of course that the goal is to be able to have the property shown.

I usually work with the tenant and offer them showing options:
1. Call tenant to schedule appointment, allow min 24 hr/ 2 hrs/etc
2. Showing only on ____ from __ to __
3. Make offer contingent upon showing (if tenant is irrate and not cooperating)

You can hold your landlord to this because, afterall, they want the property shown and you hold that power.

Below is the link to the CA tenant/landord publication I referenced earlier.
http://www.dca.ca.gov/publications/landlordbook/catenant.pdf

In addition, when looking for a new property, to assist in avoiding renting from someone in possible foreclosure trouble, ask the owner when was the last time they refinanced and how much do they owe on the property. If they say they refied within the past five years, that could spell trouble. Most people who have refied/purchased in the past five years are now upside down and facing foreclosure. Stick with homes that are older than five years, or recently purchased (within the past few months). These homes, where the loan is affordable, are a safer rental bet. No guarantee, but some guidelines that may save you from a repeated occurance.

Let me know if I can be of further assistance!

Keisha a.k.a. “The Short Sale Lady”(tm)

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