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Lender selling property

Posted on: 26th Jun, 2013 12:21 am
I live in a rental property and my rental agreement still stands valid. When I came into the property, I paid all the back payments that my landlord owned. I have been paying my rents on time for the past 5 months. Now suddenly, I get a letter saying that the lender is selling my property in August. What do I do now?
Hi Cape,

There is hardly anything that you can do if the lender decides to sell off the property. You can either look for a new property or convince the new buyers to rent you the property.

Thanks,

Jerry
Posted on: 26th Jun, 2013 12:52 am
Hi Cape!

Welcome to the forums!

You can contact the lender and check out with them if you could stay in the property as tenants. If the lender agrees, then you may have to make the rental payments to the lender.

Feel free to ask if you've further queries.

Sussane
Posted on: 26th Jun, 2013 08:17 pm
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