AND HOW DO I GO ABOUT DOING THIS.
You do what your lease specifies untill you recieve notice the house has been sold. at that point you might put the rent into escrow while things sort out. Under foreclosure, the buyer usually had 30 days to take posession; rental is at his discression and the lease is not binding to him.
No allowance for relocation fees.
The bank is apparently not assuming the lease which you may have with the former owner. If you want any damage payments, your only source is the former landlord. He's the one who didn't transfer his lease to the new owner.
(Good luck with that one. If he can't pay the mortgage, he can't pay you EITHER.)
You ought to start looking now. Once the bank takes over, your lease and any agreement made by the landlord is null and void. Forget trying to get a relocation fee. Your landlord sounds like a deadbeat. Get out before the bank shows up with an eviction notice.
No one is going to give you a relocation fee...thats all part of renting...there is no guarantee you can stay there forever.
the bank will give you thirty days but not usually more. if you are aware of this and the landlord already worned you and you are not preparing, and the bank finds out you did know and you did nothing to move out...they can give you as few as three days.
You need to pay for August and get out.
You have no idea of how long your landlord has been in foreclosure and don't take his word for it...assume it can be in any day.
This is one time where you don't get a legal 30 day notice...it can be as little as THREE DAYS. Foreclosure is the exception...it's not the bank's fault the property was rented, so they are not required to give you additional time.
I would be out as soon as possible. The landlord is not responsible for your relocation expenses...however, if you can prove the home was in early foreclosure when you signed the lease, you may have a case.
This can be easily proved by asking the court house of a "lis pendens" was filed against the property, and there probably was. Just get a copy, and that is your proof..
You're not entitled to a "relocation fee". It's amazing what people think they "deserve". If the house goes back to the bank you'll most likely pay rent to the bank until they can sell the property. The new owner can keep you as a tenant or evict you.
If you know for sure he is doing this, dont pay him a dime! This happened to my friends in Mi. The hubby and wife divorced and both declared bankruptcy..So, she kept every single bit of paperwork she got from them and the bank, but she lived there rent free for several months until the bank kicked her out! Be prepared to move quickly once you get notified...Good luck
I hate it when that happens. That's one reason I got bounced all over Boston.
All I could do is pack and leave.
If a bank is taking over the house, all you can do is move out. Sorry.
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