POST FORECLOSURE NOTICES
Today, I’m going to talk about purchasing a foreclosed home and what notices you must give if you purchase a foreclosed home that has people living in it.
As a real estate investor you may have recently purchased a home at a foreclosure auction or are you thinking about purchasing a home. However, if the home is occupied either by the previous owner or tenant, here in WA there are very specific notices you must give in order to take possession of the home.
If the property is occupied by a previous owner or someone who is not a tenant, under WA law the new owner of the property is entitled to possession of the property on the twentieth day following the sale.
If the occupant in the property is a tenant or subtenant, WA law allows the new owner to give the tenant a new rental agreement or notice to vacate within 60 days.
Also, federal law gives tenants of foreclosed homes certain protections and this includes a 90 day written notice to vacate. However, under the 90 day rule, the tenant must show that they are a bona fide tenant and have a valid lease. They also cannot be related to the previous owner.
If you are buying a foreclosed property you may not know who is occupying the property. Even if you know specifically the property is being occupied by an owner or a tenant, we recommend that you give the 20, 60 and 90 day notice. Most importantly, this notice has to be delivered the correct way. WA law requires that the notice be mailed first class and certified mail. You do not have to personally hand this notice or post it on the door, however, you can take these extra steps only after you have mailed the notice first class and certified. If the notice is not sent properly, the 20, 60, 90 day period starts from the date the notice is properly sent.
If an owner or tenant does not move out by the time the law allows them, the new owner of the property can being the eviction process. For more information about the eviction process, check out our blog.