Tenant rights superceed!.... don't care if it is a approved short sale!

Tenants living in the property is not as easy as the close of escrow!  Tenants have "Tenants Rights" and those right must be observed.  You would hope that the homeowner (especially with a short sale) would have already updated their tenants on what is going on and how much time they have.  It is especially important that the agent make sure that the tenants have been advised in the proper way - according to the state's laws.  If this is done in the proper way... it could cause some serious "after closing problems" that I am sure neither the agent, the seller and especially the buyer will want to deal with.

 

Rental Property
If applicable, an addendum to the contract should state that the buyer takes the property subject
to the rights of existing tenants. The contract can help ensure that the rental situation undergoes
a smooth transition by requiring that:

•    the seller, within a stated period of time, give the buyer copies of the rental
agreement/lease, the current income and expense statement, and any notices sent to the tenants;

•     the  seller  cannot  make  any  changes  to  the  rental  agreement/lease  without  the
buyer’s consent;

•     the seller must give the buyer written statements from the tenants confirming the salient
aspects of the tenancy and that no defaults exist; and

•     the seller must transfer to the buyer, through escrow, any unused tenant deposits.

 

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The Mother and Daughter Realty Team

Rosemary Brooks (DRE # 01336351)  Realtist, CDPE, HRC, CDSP,  REO & HUD  Certified

D'Adrea Davie (DRE# 01510971) Realtist, CDPE, HRC, CDSP, REO & HUD Certified

EMBARCADERO INVESTMENTS - the Real Estate Company

Ofc: 866-543-0461  Msg: 209-910-3706   Fax: 209-762-6971

EMAIL:     motheranddaughterrealtyteam@gmail.com /

REO Website:  www.centralvalleyreos.com

WEBSITE:   www.motheranddaughterrealtyteam.net

 Short Sale Website:  www.shortsales-HAFA.co

Do you need a Central Valley Short Sale Specialist?  If you have any questions or would like to discuss any real estate related issue please contact the Mother and Daughter Realty Team at (209) 910-3706 or complete our Contact Form.

Rosemary Brooks & daughter, D'Adrea Davie - The Mother and Daughter Realty Team specializes San Joaquin Central Valley, Stockton real estate, Homes for Sale, Housing: Stockton short sales, Lathrop short sales, Tracy short sales, Manteca short sales, Lodi short sales, Mountain House short sales, Salida short sales, Ripon short sales and Modesto short sales.

 ATTENTION CENTRAL VALLEY HOMEOWNERS: 

We can help you with a Short Sale if you are in a situation of 

*Pre-Foreclosure   *Hardship    *Job Lost   *Reduced Income   *Divorce   *Upside down on Equity   *Can't afford Mortgage   *Unexpected Medical Expenses    * Can't Refinance  * Failed/Denied HAMP Loan Modification * Other

Some of the BENEFITS OF A SHORT SALE

*Avoid Foreclosure   *Reduced damage to your credit   *Free of financial burdens   * Relief of the stress   * Possible incentive from HAFA (Home Affordable Foreclosure Alternative)

ASK me about - WACHOVIA FASTTRACK SHORT SALES 

It is an EASY, NO Stress & FAST way to get an APPROVED - Short Sale

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• A REALTIST believes in preserving the rights of all Americans to homeownership and is dedicated to serve the unserved and underserved by developing creative and effective methods of doing so.

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www.centralvalleyrealtist.com / www.nareb.com / www.CAREB.org

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