QUESTION

How much notice will I be given to vacate if house is up for auction due to foreclosure?

Asked on Sep 11th, 2013 on Foreclosures - New Jersey
More details to this question:
I am still living in my house while waiting for the house to go up for auction due to foreclosure. When do I need to vacate the property? When notified it is going up for auction or when the house actually sells at auction?
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4 ANSWERS

Richard hirsh
If there has been a judgment of foreclosure and sale, your home can go to auction not less than 90 days after the judgment. The judgment will specify when the redemption period ends. You should receive a notice from the lender of the sale date. Assuming the sale is held on that date, the lender then must obtain an order approving the sale. Typically that is about 2 weeks after the sale. Then, you can be required to vacate 30 days after that.
Answered on Sep 12th, 2013 at 10:10 AM

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If you want to stay in the home as long as possible, you don't have to move out until the auction purchaser sues you for unlawful detainer and gets a judgment against you. This is the same type of suit that a landlord files to evict a tenant. It is a summary proceeding, which means it can be completed much faster than ordinary lawsuits. It would then take some time for the sheriff to physically evict you, depending on how busy the sheriff's department in your county is. However, I strongly urge you to consider negotiating a cash-for-keys agreement with your lender. Lenders are often willing to pay thousands of dollars in relocation expenses in exchange for a voluntary move out, which saves the time and expense of further foreclosure and eviction proceedings.
Answered on Sep 11th, 2013 at 1:30 PM

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Environmental Law Attorney serving Auburn, CA
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If you are in CA., you will have 30-60 days to vacate. Often, the lender will offer you "cash for keys" to move out and leave the place clean within 20-45 days after the foreclosure sale. If you are not in CA, you should call a real estate attorney in your state to see how long you have in your state.
Answered on Sep 11th, 2013 at 1:11 PM

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General Law Attorney serving Cherry Hill, NJ at Mark S. Cherry, Attorney at Law, PC
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In new jersey you do have to vacate until evicted by a judges order post sale.
Answered on Sep 11th, 2013 at 12:54 PM

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