Foreclosure today - HOA and insurance?

[SweetGeorgia]

We lost a house we'd been renting out (bad tenant) today at the foreclosure sale. The buyer actually came over right away, which I thought was very strange.

The lock on the front door had been changed 2 weeks ago (I didn't know they could do that), but not the back door. Terrible damage to the front door and frame, but not my fault and not my problem anymore.

We wanted to remove a few items (no fixtures, not stripping or anything). The buyer was basically trying to throw us out, rather obnoxious. While I understand his concern, he should have been prepared to show proof of ownership, and anyway the insurance is still in my name for today.

If I can get copies of his papers tomorrow, does that mean I'm off the hook for the HOA fees and can cancel my insurance?

[BassBoy]

I would suggest waiting to cancel insurance and keep the HOA dues current until the deed transfers to the new owners name. You could try to provide papers to show who the buyer was, but just keep in mind that you may be liable for everything until the title work is completed.

Good Luck!

[franken55406]

After a foreclosure sale is done, doesn't the redemption clock kick in?

We lost a house we'd been renting out (bad tenant) today at the foreclosure sale. The buyer actually came over right away, which I thought was very strange.

The lock on the front door had been changed 2 weeks ago (I didn't know they could do that), but not the back door. Terrible damage to the front door and frame, but not my fault and not my problem anymore.

We wanted to remove a few items (no fixtures, not stripping or anything). The buyer was basically trying to throw us out, rather obnoxious. While I understand his concern, he should have been prepared to show proof of ownership, and anyway the insurance is still in my name for today.

If I can get copies of his papers tomorrow, does that mean I'm off the hook for the HOA fees and can cancel my insurance?

[SweetGeorgia]

In Georgia, the only redemption period is for tax foreclosures. If there are any consumer protections in this state, I haven't found them.

Not that I wanted to keep the house, but I thought I'd have it until the foreclosure date at least! (That's what the bank's lawyer told me yesterday. Total BS.)

[franken55406]

In Minnesota, once a property is sold at a sheriff sale, the 6 months redemption period kicks in.

[bkfdrusa]

I would suggest waiting to cancel insurance and keep the HOA dues current until the deed transfers to the new owners name. You could try to provide papers to show who the buyer was, but just keep in mind that you may be liable for everything until the title work is completed.

Good Luck!

How do we know the deed got transfered and the house was sold?.