Purchasing a home at auction can be a profitable investment, but many would-be buyers are not aware that buying property is only the first step to possessing it. If you recently purchased property at foreclosure auction, then you may be surprised to find that the previous homeowners have not vacated the premises since the foreclosure sale took place. That’s because under Florida law the homeowner is now your tenant and is not required to move until you begin a formal eviction process.

How Do I Evict?

Ten business days after the foreclosure sale is successful you will receive a certificate of title (which grants you title to the land, the home and anything permanently attached to it), at which point the state of Florida requires you to apply for a writ of possession if you wish to evict the previous owner. Once the writ is granted, a sheriff will notify the previous owner (now technically your tenant) that they’ve been divested of the property and are expected to leave the premises within 24 hours.

What Stays Behind?

The tenants are not allowed to take with them anything that is not considered a personal item from the property. That is, all items that are affixed to the home such as built-in cabinets, permanently attached light fixtures, etc., must remain with the property. Items such as movable furniture and appliances, however, are considered personal property and may be removed by the tenants upon eviction.

Things to Keep in Mind

Prior to the foreclosure sale, the current homeowner remains vested in the property unless they voluntarily abandon the home and the lender swoops in to repossess it. The homeowners are not required to move until the foreclosure is complete and proper procedure has been followed. After the foreclosure sale takes place, the homeowner then automatically becomes a tenant and the new owner must begin the standard eviction process for the state of Florida. Eviction can be a delicate matter and it is important to follow the legal process carefully in order to avoid complications. Consult with an experienced foreclosure attorney in order to ensure you are following procedure and taking the appropriate legal steps.

Stephen K. Hachey, a Florida real estate attorney can help your wade through this process and determine a positive solution. Contact him at 813-549-0096.

The opinions in this post are solely those of the author. The author takes full responsibility for the content. Like all blog posts, this is offered for general information purposes and does not constitute legal advice.

This post was written by Stephen Hachey. Follow Stephen on Google, Facebook, Twitter & Linkedin.

If your property was recently foreclosed, you may be wondering what’s next and what your rights are going forward. For homeowners who’ve been foreclosed, there may still be a few options left on the table. Here are some things to consider if your home has just sold at foreclosure:

Contesting the sale

Per Florida statute, homeowners are able to redeem (pay the past-due balance in full or reach an agreement with the lender) at any time prior to the foreclosure sale. Unfortunately, reclaiming your home is generally next to impossible once the foreclosure is final, as the court issues a Certificate of Sale and the redemption period ends.

Once the sale is final, homeowners have ten business days to contest the foreclosure on a legal basis. Having an experienced attorney can help you determine whether or not you have a valid complaint. Your attorney may, for example, file a complaint if the bank or the courts failed to give you proper notification of the foreclosure sale. After ten days however, if you have not contested the matter, the court issues a Certificate of Title to the new owner.

What happens after the court issues a Certificate of Title?

Once the new owner receives title to the property he is then able to legally begin the eviction process. However, this does not mean you must vacate immediately. The new owner of the property is not allowed, under any circumstances, without express consent from the courts or without a Sheriff present to forcefully remove you or your property from the premises. Technically, you are not required to leave until the buyer or the bank (whoever purchased the property at sale) serves you with proper notice of eviction.

What’s next?

Once the buyer receives title you automatically become tenant. In most cases, the bank or new owner may offer you a deal, such as Cash-for-Keys, in order to avoid hefty fees and a clunky eviction process through the court system. This can be a positive outcome that can help you move on. Staying informed and seeking the help of a knowledgeable real estate attorney can get you the outcome you deserve and ensure that your rights are being protected.

Stephen K. Hachey, a Florida real estate attorney can help your wade through this process and determine a positive solution. Contact him at 813-549-0096.

The opinions in this post are solely those of the author. The author takes full responsibility for the content. Like all blog posts, this is offered for general information purposes and does not constitute legal advice.

This post was written by Stephen Hachey. Follow Stephen on Google, Facebook, Twitter & Linkedin.

Foreclosure is a difficult and protracted process which homeowners hope never to experience. For many, the end of foreclosure is only the beginning of a new nightmare. Many homeowners, for example, leave their homes during proceedings—perhaps on a business trip or to visit family—only to return and find that the foreclosure is complete and they’ve been locked out of their homes.

Often times your lender is legally justified in taking possession of the home. However, the bank must take a number of steps before they are able to bar you from the premises. It is vital that before you walk away from your home or your belongings, you verify whether or not the bank has complied with standard procedure. The following tips should help determine whether your bank has a right to lock you out of your home and keep you from your belongings.

Certificate of Sale

The property remains in your possession until the foreclosure action has been carried through to its conclusion. The title may not be transferred back to the lender until the property has sold and a Certificate of Sale has been issued.

Certificate of Title

Once the sale has taken place and all proceeds are collected, you have ten days before the Clerk of Circuit Court issues a Certificate of Title, stating that the property belongs to the new owner.

Writ of Possession

Even after the bank has sold the property and obtained a certificate of title, in the state of Florida the new owner must apply for a writ of possession. Once the writ is granted, the Clerk issues it, and generally a sheriff will notify you that you’ve been divested of the property and are expected to leave the premises within 24 hours.

Remember, your lender cannot kick you out of the premises before following these procedures so be sure to double check that the all required paper work has been filed and that you’ve received proper notification. If you’ve been locked out of your home, immediately contact an experienced foreclosure attorney and be sure to explain the particulars of your situation.

Stephen K. Hachey, a Florida real estate attorney can help your wade through this process and determine a positive solution. Contact him at 813-549-0096.

The opinions in this post are solely those of the author. The author takes full responsibility for the content. Like all blog posts, this is offered for general information purposes and does not constitute legal advice.

This post was written by Stephen Hachey. Follow Stephen on Google, Facebook, Twitter & Linkedin.

Though navigating the ins and outs of real estate foreclosure isn’t always a simple matter, many homeowners often do successfully make it to the tranquil shores on the other side. The ultimate goal of a foreclosure defense is to avoid a final judgment. This means doing whatever possible to come to terms with your lender in order to halt the foreclosure and avoid having the property going to foreclosure sale. Here are a few examples of an effective foreclosure defense:

Loan Modification – The most common method of avoiding foreclosure is to renegotiate the terms of your loan in order to lower your monthly payments and remain in your home.

Short Sale – If a loan mod is not feasible, a short sale may be the next best thing. In a short sale, your lender agrees to allow you to sell the property for less than the mortgage debt.

Deed-in-Lieu – A deed-in-lieu allows you to convey all interest in the property back to your lender, satisfying the loan and allowing you to circumvent the ruinous effects a foreclosure can have on your credit.

Deficiency Waiver – When a property sells for less than the balance owed on the mortgage, the difference is a deficiency and you remain liable for that difference. If you do agree to a short sale or a deed-in-lieu, be sure to make the release of any deficiency part of the contract with your lender.

With a proactive attitude and the help of a professional, you can indeed come out of foreclosure proceedings with your head held high and healthy pockets. Lenders are often willing to work with underwater borrowers looking for alternatives; consult with an experienced foreclosure attorney and explore your options.

The opinions in this post are solely those of the author. The author takes full responsibility for the content. Like all blog posts, this is offered for general information purposes and does not constitute legal advice.

This post was written by Stephen Hachey. Follow Stephen on Google, Facebook, Twitter & Linkedin.