Fairfax Foreclosure
Is this a foreclosure? When will I be evicted?
I have a year lease that started July 1, 2007 for a condo. I’ve paid rent for July/August + a security deposit. My landlord just called to ask if I wanted to buy the condo for 70K below value in a short sale. I think she is foreclosing (or going to) because I think that’s why people do short sales, right?
How long before I can be a evicted? How will I get my security deposit back – it was equivalent to one month’s rent? What should I do??
This is in Fairfax County, Virginia.
Everyone’s advice has been terrific! I’ve had a lot of people tell me to buy the place but I’m 23 with little savings. I’ve heard condos are bad investments, plus I heard that condos can have big reassessment fees + condo fees. I’m worried I won’t be able to pay for all that if I buy, plus I’ll be the one fixing everything if it breaks. Wouldn’t that be really risky??
first check yourself and see if she is in foreclosure.
you can find that information at the courthouse Hall of records or at the tax accessors office- (you will be checking for a NOD notice of default)
here is a website that l use…it is the foreclosure procedures and timelines for each state…click on your state.
http://www.foreclosures.com/pages/state_laws.asp
if you do find that she is in foreclosure – a trustee should be named in the records….so I would contact the trustee and explain to him your situation and ask him about the timelime.
if there is no trustee listed, call the landlord back and say that you are aware they are in foreclosure….how long before you need to be out…and what about your deposit?
it might be that the new owners would like a tenant, but it might be that they will purchase for themselves.
this is happening all across america to tenants…when landlords go into foreclosure and are not up front with the tenants.
Note—-it might be that your landlord was just thinking of selling and gave you first hit at it at a lower rate…maybe (but i doubt it).
good luck 
Fairfax Foreclosures, FANNIE Owned Home for Sale – 4368 Sutler Hill Sq, 22033
