I currently lease a home that was foreclosed on in Texas. The party that represents the new owner offered us cash for keys to move out in two weeks. The property management company that we dealt with(who represented the foreclosed owner) says that they will waive all deposits and fees if we move into another one of their properties. Is this just a ploy by them to get us in another one of their properties without refunding our deposit? Are they the ones that would have our security and pet deposit or are those funds transferred to the bank that bought the property? If I choose to lease a home from a different property management company, can I ask for full refund of the pet and security deposits being that they no longer have anything to do with this home?

On a different note, will the bank that purchased the foreclosed home have a record of appliances that were in the house? There is a washer and dryer set as well as refrigerator I would be interested in keeping.

Hello 5:

Your old landlord has your deposit. I don't know if they're tricking you. Don't steal the appliances.

excon

First, the new owners are being nice. You have no right to continue to occupy the house,

Second, The mgmt company is being nice. However, if they are holding the deposits then they will return them if you move.

Finally, if you steal anything you could be prosecuted,

Yes, your new owners are being nicer than I have ever heard.

Once foreclosed, the new owners don't owe you anything. They can just demand you get out at once, or at most about a 10 day notice. And not pay you a penny.

The old owner has your deposit and only he is responsible to pay you.
Also any lease you had was voided at foreclosure as to the new owner.

And yes, actually prior to foreclosure there should have been a home inspection, and all owner property in the buidling would have been recorded. So the new owner owns them. And do you normally steal the property of others?

I am mainly asking if I need to be concerned about collecting deposit. Management companies normally make their $$ on occupants moving out and collecting on their deposits upon their move on minimal charges. In this case, and their having no access to the house, I feel they should be required to refund in full. Would this be correct, or would I need to takd them to small claims court to get this money back?

Second, I am not used to stealing or do I normally steal, but in researching this topic, I can across more that two responses that recommended selling all appliances and wanted some feedback on whether this was common practice or not.

Thanks for all your help

First, I don't know where you so this business about selling appliances, but it wouldn't have been on this site unless there were different circumstances. You do not own those applicances, unless you purchased them on your own with the understanding you could remove them. Otherwise they belong to the owner of the home. And doing anything with them would be theft.

Second, the deposit issue depends on who is responsible for the deposit. In some cases the management company collects and manages those funds, on others the landlord does it. If the landlord has the deposit, you have to get it from them and if the bank foreclosed, you may have trouble unless Texas law required that your deposit be kept in a separate escrow account. If the mgmt company was responsible, then you should have no problem getting the deposit back.

Best Answer - Chosen by Voters
From California: Same thing happened to my sister and a friend. DON'T PAY NOBODY NO RENT!! Not your old sleazy bag landlord for having his hand out and not paying the mortgage and definitely not the mortgage company because they are the ones who have cause this housing mess.
Can't sue the landlord for inconvenience of having to move early. However, you can sue for your security deposit and last month rent if he asked for these things when you moved in. (Did the house come with any appliances? SELL THEM ALL! Yep, that's right-- sell them).
The mortgage company is now your landlord and they have to do EXACTLY what everyone else has to do to evict a tenant. Go through the court system. Here in San Diego county, that a guaranteed 45 - 60 days of free rent. Your sleazy landlord shouldn't give the mortgage company your name. Can't file court papers without your name.
My sister lived in her rental for an additional 72 days after she too found the "notice of foreclosure" on the front door. The Sheriffs came on the 73rd day to serve her with eviction papers. Her rent was $1450/month. We sold the stove, fridge, dishwasher, washer, dryer, ceiling fans and the water softener system.
1 week ago
100% 1 Vote


This is what somebody told me.. . Any thoughts?

Hello again:

Well if they told you over at Yahoo the steal all the stuff, then that's exactly what you should do. Say hi to bubba when they bust your theivan a$$.

excon

Well that's one response. I also don't see what the question was, but I can tell that answer would probably not have lasted long here. We do not allow or condone advice to break the law.

That poster's sister is lucky she wasn't placed in jail. Or maybe she was after that note was posted. As for staying the extra 72 days, sure you can use the courts to delay having to vacate. But how easy do you think it will be to find another rental with an eviction on your record?

And of course why I got banned from Yahoo answers this year, but reporting bad answers like this and telling them right answers, Yahoo does not want to hear a lot of good answers for some reason.

But yes, I have had renters arrested for taking my appliances.

But on a honest answer, you will be lucky to get any deposit back without taking them to court, they are broke, they just lost their property, so most likely they will have no money to pay any deposits back