foreclosure on a rental (Sarasota, Southgate: short sale, real estate, foreclosures)

[kjg812]

I am currently renting a house in the Southgate section of sarasota. I have received two calls in the last week about trying to save my house from foreclosure. Anyone now where I could find out information if the property is in foreclosure?

[Big House]

Originally Posted by kjg812

I am currently renting a house in the Southgate section of sarasota. I have received two calls in the last week about trying to save my house from foreclosure. Anyone now where I could find out information if the property is in foreclosure?

If you don't own it you can't do anything if it going to foreclosure. Protect yourself though, and if you have a deposit, don't make the next payment because you will likely lose it. An important question though is do you have a written lease? What does it say? Is it a month to month?

[SoFLGal]

To do this go here: Sarasota Cnty Property Appraiser look under "property search" and then "real property". Type in the address of the home. Once you have the owners name(s) look them up on the clerk of the court website and make sure they don't have a lis pendens (pre foreclosure) on the property. SARASOTA : Clerk of Circuit Court & County Comptroller Look under "online services", then "official records" then scroll to the bottom of the page and do the "I agree" paragraph and then type the owners name in. This should help you avoid any unpleasant surprises.

Most banks will offer relocation assistance. In the real estate business it's referred to as "cash for keys". I list many of the foreclosures in the area so if you'd like to DM me I can give you a heads up on how this usually works.

[Sunshine Rules]

I have a friend that rented a home that is in foreclosure. (If he had asked me before signing the annual lease, I could have warned him about the foreclosure....)

He found out about the foreclosure when a service company came to change the locks -- the bank thought the property was vacant. Needless to say, he called an attorney immediately.

The attorney advised him to keep making payments on time to the landlord and to send them certified mail. My friend was also advised to contact the attorney that was handling the foreclosure and give them written notice (certified mail) that he was a tenant, along with a copy of the lease.

Here is part of the info regarding the federal Protecting Tenants at Foreclosure Act of 2009 that applies to tenants when the property is in foreclosure:

Protecting Tenants At Foreclosure Act Of 2009

As per this 2009 Act, automatic termination of the lease contracts applicable on buildings that are going to be foreclosed is strictly prohibited.

For example, if a tenant has signed a lease agreement of twelve months and if the property gets the foreclosure notice during the fourth month, the tenant has the legal right to continue living in the building for the remaining period (8 months). It is just that the ownership of the building will change. The tenants may get a new landlord.

However, Florida foreclosure laws have also made some room for exceptions. The tenants may not be able to continue living in their residence if the new landlord wants to occupy the building. In that situation, the tenants will have to vacate the property within three months. The new landlord must give them a 90-day notice in this regard.


First, I would find out if the property is actually in foreclosure. If the Clerk of Court records show a filing of a Lis Pendens, then the lender has filed notice that they are starting foreclosure.

At that point, you may want to contact both the foreclosure attorney on record and an attorney of your own. I would not recommend you stop making your rental payments without consulting an attorney first. You need to know what your legally allowed options are. There are also several law firms in FL that have web sites with information regarding foreclosures and tenant rights that are easy to find with a google search.

The more knowledge you have about the situation, the better decisions you can make.

[Big House]

And, if you have a month to month lease, they new owners only have to give you the 30 days notice for you to move. Most home owner's in foreclosure only give a month to month lease - at least that is wise for them to do that because they are usually in short sale, and do not want to tie up the availability of the property should a buyer and the owner make a deal, or if the owner and the bank can come to an agreement.

The new buyer then only has to honor the terms of 30 day lease - if there is one. When homes are bought in foreclosure the buyers are allowed to take immediate possession of the home. If it is occupied then they have to allow 90 days if they want to take occupancy.

You can't save the house you are renting from foreclosure - you don't own it. There is nothing you can do about that.
The tenant has no rights to do anything that will slow down, hinder, impede, or stop the foreclosure. They can't step in line and buy the house before anyone else. They would have to go through a short sale process and make an offer on the home to the lender the same as anyone else, and if it goes to foreclosure they would have to pay cash in full in order to bid on it just like anyone else. The OP asked if anything could be done to "save my house from foreclosure".

I hope the rest of the information is helpful. But you need to read your lease - if you have one.