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June 23, 2010 By realtorguru

Eviction Process after Foreclosure

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The eviction process after foreclosure is done by whoever has bought the property. It is a legal process and every state has its own eviction laws. This is a process which can take longer than the foreclosure itself. The following will give you an idea about how the eviction process after foreclosure is carried out.

The initial step of the eviction process is done by sending a notice to the original owners. This notice would provide a deadline to the original owners to vacate the premises. If the original owners do not vacate the house by the deadline, the new owners have the option to appeal to court. What usually happens in this part of the eviction process after foreclosure is that the new owners file a lawsuit, also known as an eviction lawsuit. Through this lawsuit, they gain right of forcible entry, since the former owners are no longer entitled to reside in the premises of the foreclosed property.

The next step in the eviction process after foreclosure is undertaken by the court, which intervenes and issues a notice to the former owners. Through this, they are given a time period to respond to the complaint filed by the new owners. The response should include plausible reasons for not vacating the premises, delay in handing the property and any other causes. The original owner can also request the courts to grant more time for moving out of the house.

Now the next step of an eviction process after foreclosure is represented by the arguments brought in court by the lawyers of both the parties – the new owners and the original owners. This is an opportunity for both the parties to present their case to the judge. Like any case, the judgment can be either in favor of the new owners or the original ones. This decision, if ended in the favor of the complainant, is also known as the eviction order. But once the order has been passed, the original owner is bound to follow it and has to vacate the premises as per the deadline set in the eviction order.

The last step in the eviction process after foreclosure is to make the borrowers or original owners vacate the property as per the eviction orders. The crew of that location is given the responsibility of carrying out those orders. At this stage, there is no possibility to negotiate, postpone or extend the deadline of the eviction order.

The eviction process after foreclosure and the court proceedings are quite stressful and tough on both the parties. As a former owner, you will add more stress to your life and be put in a position of being forced out of your home. Hence it would be for your own good, to vacate the house, without any legal hassles. This would spoil the relationship between both the parties.

If possible, negotiate with the new owners before you go down the dark path of the eviction process after foreclosure. You may get an extension from the new owner and thereby can plan up vacating the house with much more ease and comfort. Moreover, if the new owners are planning to rent the house, you can make an offer to be the new tenants and remain as long as you can in your house.

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    Filed Under: Foreclosure houses Tagged With: buying houses in foreclosure, eviction process after foreclosure, foreclosed home eviction, foreclosure investing, home investing, rents, tax foreclosure investing

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