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Ely, Counselor at Law
Category: Real Estate Law
Satisfied Customers: 102336
Experience:  Qualified attorney in private practice including business, family, criminal, and real estate issues.
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My house was just auctioned, i need to know what is next. i

Customer Question

hi, my house was just auctioned, i need to know what is next . i live in nj
Submitted: 1 year ago.
Category: Real Estate Law
Customer: replied 1 year ago.
i am trying to find out how long is the reception period and also if i can request to stay in the house to a judge
Expert:  Ely replied 1 year ago.

Hello and welcome to JustAnswer. Please note:This is general information and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.

I am very sorry to hear about this situation. Once the home is auctioned off, then the buyer becomes the new owner. Very often, the lender is the same entity that ends up buying the home.

Once this happens, you become a "tenant at sufferance" on the property, essentially meaning that you are there at the discretion of the new owner. The new owner can then ask you to leave. They would normally do so by sending a notice of 30 days. If you do not leave within 30 days, they can file for an eviction.

There is a redemption period, but it is short. You can utilize the redemption period by making payment in full of the sum of the unpaid loan plus costs. There is a time limit of only ten days to undertake such redemption after the foreclosure sale.

You cannot request a longer time to stay in the home, I am sorry to say. You can technically appeal the decision of the court and if you do, file a motion to disallow eviction while the appeal is pending. However, the appeal will normally cost money and would normally not be successful.

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I hope this helps and clarifies. Please use the SEND or REPLY button to keep chatting, or please RATE when finished. You may always ask follow ups at no charge after rating. Kindly rate my answer as one of TOP THREE FACES/STARS and then SUBMIT, as this is how I get credit for my time with you. Rating my answer the bottom two faces/stars or failing to submit the rating does not give me credit and reflects poorly on me, even if my answer is correct. I work very hard to formulate an informative and honest answer for you; please reciprocate my good faith with a positive rating.

Customer: replied 1 year ago.
How do i find out who the newowner is ?
Expert:  Ely replied 1 year ago.

There are several ways:

-after the auction, call the lender and ask, or

-you can see the records at the deed office be updated within a few days, or

-you can simply attend the auction and find out at that time.

Gentle Reminder: Please, use REPLY or SEND button to keep chatting, or RATE POSITIVELY and SUBMIT your rating when we are finished. You may always ask follow ups at no charge after rating.

Expert:  Ely replied 1 year ago.

Hello again. This is a courtesy check in to see if you needed anything else in regards ***** ***** question. I am simply touching base. Let me know. Thanks!

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