if a house sold in auction does the buyer pays cash for keys?
Saturday, February 20th, 2010 at
7:13 am
the buyer is not the bank!! and how long do i have to move out?
i live in california
Quick House Sale
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Usually you will be served with a notice to vacate once the sale becomes final. If there is any redemption period in your state, they probably have to allow that time to pass.
It could be 30 days or more. Contact the people who run the auctions in your area. I am sure they can tell you the exact particulars.
Buyers other than banks rarely pay ‘cash for keys’. From the date the buyer takes ownership, you will have about thirty days to vacate the premises. The above reply is correct as well. Any redemption period allowed (my state has none) would have to pass before they can claim full ownership.
no. what would happen is once the title transfers to the buyer, than the occupant would be served notice to vacate. the time of this notice varies by state. 99 percenf of the time, only banks pay “cash for keys”. it’s always better for both the occupant and the buyer for the person to vacate. it’s better for the buyer because they don’t have to go through the hassle of evicting someone, or getting the sheriff involved. it’s better for the occupant, because they don’t get an eviction on their credit.