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    TAMIKA DAVIS33's Avatar
    TAMIKA DAVIS33 Posts: 1, Reputation: 1
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    #1

    May 18, 2009, 11:43 AM
    Short-sale information
    Quick question do I still pay rent even though my laldlord property is for short sale, ireside in Illinois?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    May 18, 2009, 11:49 AM

    You need to pay rent as long as you reside on the property. Why would you think the landlord putting the property up for sale of any kind would relieve you of the obligation to pay rent.

    Asl long as your landlord owns the property, even if it were to go into the foreclosure process, you are obligated to pay rent.
    stevetcg's Avatar
    stevetcg Posts: 3,693, Reputation: 353
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    #3

    May 18, 2009, 12:13 PM

    All a short sale means is that it is being offered for sale at a price less than what he owes on it. It is a bank issue, not a tenant issue.

    Like Scott said - if you live there, you owe rent to your landlord regardless of the status of the property.
    ForeclosureHelp's Avatar
    ForeclosureHelp Posts: 16, Reputation: -1
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    #4

    Jun 8, 2009, 04:32 PM

    We work with organizations that do short sales... if the owner/landlord is current on their payments I would strongly suggest to pay your rent.

    However, if the home is in foreclosure & the owner/landlord is doing a short sale I would keep your money since you will have to move out and find another place to live.
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