Comments on: Evicting a Tenant During the Short Sale Process Can Be a Tricky Game http://fridaycoffeebreak.com/topics/real-estate/evicting-a-tenant-during-the-short-sale-process-can-be-a-tricky-game/ Weekly Preforeclosure Updates from Patrick Precourt Tue, 08 Nov 2011 16:01:16 +0000 hourly 1 http://wordpress.org/?v=3.3 By: Kent Barnes http://fridaycoffeebreak.com/topics/real-estate/evicting-a-tenant-during-the-short-sale-process-can-be-a-tricky-game/comment-page-1/#comment-70 Kent Barnes Thu, 04 Jun 2009 17:22:15 +0000 http://fridaycoffeebreak.com/?p=218#comment-70 I like the last statement about Fear knocking at the door and Faith answering.... I like the last statement about Fear knocking at the door and Faith answering….

]]> By: David Mitchell http://fridaycoffeebreak.com/topics/real-estate/evicting-a-tenant-during-the-short-sale-process-can-be-a-tricky-game/comment-page-1/#comment-44 David Mitchell Sun, 03 May 2009 03:15:06 +0000 http://fridaycoffeebreak.com/?p=218#comment-44 Hi Pat, Texas condo, rented, owned by Californian. I'm in CA. Tenant still had a year on the lease and was current on rent. Two San Antonio attorneys told me that if anyone evicted the tenant, he could sue everyone involved. We would have passed, except that the tenant's lawyer erred and told him he could withhold rent because the owner was not paying the mortgage. That's only true if there is NO hardship. So tenant stopped paying rent. Hooray! Owner served eviction notice and I could have done a short sale. But, tenant wised up, got his rent current, and ended up buying the home REO after a foreclosure after all. He got a stellar deal. Optionally, we could have bought the home A-B and sold it to the tenant B-C, but the tenant would had us over a barrel during negotiations, so we passed. Unless you are a TX real estate agent, check the tight Texas flipping laws to ensure compliance. Now we have another TX deal just like it, except that the tenant can't buy the home. No credit. I'm going to find a TX real estate agent to handle A-B and B-C sale, and maybe it can work. TX has tough laws on flipping. Cheers, David Mitchell in San Diego Hi Pat,

Texas condo, rented, owned by Californian. I’m in CA. Tenant still had a year on the lease and was current on rent.

Two San Antonio attorneys told me that if anyone evicted the tenant, he could sue everyone involved. We would have passed, except that the tenant’s lawyer erred and told him he could withhold rent because the owner was not paying the mortgage. That’s only true if there is NO hardship. So tenant stopped paying rent. Hooray!

Owner served eviction notice and I could have done a short sale. But, tenant wised up, got his rent current, and ended up buying the home REO after a foreclosure after all. He got a stellar deal.

Optionally, we could have bought the home A-B and sold it to the tenant B-C, but the tenant would had us over a barrel during negotiations, so we passed.

Unless you are a TX real estate agent, check the tight Texas flipping laws to ensure compliance.

Now we have another TX deal just like it, except that the tenant can’t buy the home. No credit. I’m going to find a TX real estate agent to handle A-B and B-C sale, and maybe it can work. TX has tough laws on flipping.

Cheers,
David Mitchell in San Diego

]]> By: David Fremel http://fridaycoffeebreak.com/topics/real-estate/evicting-a-tenant-during-the-short-sale-process-can-be-a-tricky-game/comment-page-1/#comment-42 David Fremel Sat, 02 May 2009 02:02:21 +0000 http://fridaycoffeebreak.com/?p=218#comment-42 I use a kickout clause on the B-C so that I can take as many contracts as possible due to the property going to foreclosure all potential buyers sign and are fully aware. So, therefore I can take other offers after signing contracts. Do you see a problem with this. I use a kickout clause on the B-C so that I can take as many contracts as possible due to the property going to foreclosure all potential buyers sign and are fully aware. So, therefore I can take other offers after signing contracts. Do you see a problem with this.

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