About the Author:
When people go through foreclosure the biggest question that they have is how long they have to live in it. Bank owned repo homes have a process that the bank must follow in order to get you out of the house.
When the house goes to the foreclosure auction you are technically supposed to move out of it. This is ideal for the banks if you are out by the day of the set auction. You will receive a letter in the mail that tells you when the auction is. Most homeowners actually think they are supposed to be out of the home months before the home goes to auction. This is not the case.
If a home sells at an auction then the new owner will have to do their duties to have you removed from the home. They will have to show their ownership to the sheriffâ€™s office and they will serve you or post a notice. This notice will give you from 72 hours or up to 10 days, depending on the local county regulations. If you are given 72 hours by the sheriffâ€™s office to be out of the premises then you need to be out by then. This is because the sheriffâ€™s office will have officers come to the home on the deadline and remove you physically from the home.
You will not be allowed to grab your belongings out of a foreclosure if you stayed in it up to the date of the sheriffâ€™s office removal. The postings and the letters of eviction are enough time for you to have your things removed from the home and put in storage. If you leave things inside of the home then the sheriffâ€™s office will put the items in a storage for you to come and get later. Most sheriffâ€™s offices do not charge for storage and you will not have to pay a fee to get your belongings.
The time it takes for a home to foreclose and for you to be required to move out of bank owned repo homes can take up to a year from the first month of a missed payment. When you receive the notification from a sheriffâ€™s office that you are being evicted and must leave the premises is when you really will have to go.
Joseph Smith has been educating buyers on the finer points of Bank Owned Repo Homes at Foreclosure-Repo-Auction.com for over five years.
3 Steps For Securing Equity Capital For Your Real Estate Project
Financing a real estate project always requires a cash contribution, as 100% financing is not realistic in today's market. The cash deposit is necessary to close the loan and obtain financing. In this article I discuss various sources that can help meet the cash equity requirement, where to find them, how to approach and secure them, and suggestions for obtaining equity capital and investor participation....
Realtors: Will CU Affect Your Income in 2015?
Michael D Turner
"CU" is Fannie Mae's in-house tool for examining credit risk. They are rolling it out to Lenders and, indirectly, to their AMC partners in January 2015....
How Pre-Listing Home Inspections Help Sellers Get An Advantage
Pre-listing home inspections is something that has been discussed in the home inspection and real estate business for many years. Resisted at first by nearly every real estate agent and seller this timing of having a home inspection done is beginning to gain traction. There are definitely positives and concerns with having your home inspected prior to listing it for sale....
Why You Should Go To An Open House When Someone Invites You
Desare A Kohn-Laski
The wide array of possible choices for your next dwelling can really make your mind boggled. Add the illusions created by reality shows, magazines, and internet search results, then your mind can really blow off and create an indecisive state of where to buy and what type of house to buy. Thus, when opportunity comes for a physical inspection, you should go for it....
The Income Approach to Business Valuation
Getting the correct business valuation is an important process to go through, whether you are wanting to sell, buy or get a loan. The best way to approach it is to look at the different valuing factors that are taking into account. One of these is the income approach to business valuation....
Get an Accurate and Independent Property Valuation Report
The market currently is good to be in if you are wanting to sell property. In fact there are many developers looking to create office blocks within the suburbs and may need to knock down a few homes in order to do this. If it is time for you to move out, while getting a decent price for your home then you need to get an accurate and independent property valuation report....
How to Sell Your House to Avoid or Stop Foreclosure
If you have fallen behind on your mortgage payments, your lender could choose to foreclose on the loan. This means that you will lose your house and suffer a huge hit to your credit score. However, you may be able to sell your home to stop foreclosure. How does selling your home potentially put an end to your foreclose dilemma?...