I’m in WA, no past experience on buying at auction. I’m not clear on the steps involved after winning a bid. Could someone help clarify?
According to the law, a) the Trustee Deed will be recorded within 15 days after the sale. b) if owner occupied, the purchaser will be entilted to possess the house on the 20th day following the sale. c) if renter occupied, the purchaser may either give you a new rental agreement OR give you a written notice to vacate the property in sixty days or more before the end of the monthly rental period.
Do you get keys from the trustee? If not, what will happen on the possession day? Do you just bring tools to unscrew the door locks?
if renter occupied, does this “60 days” start from the trustee sale date?
If renter occupied, can the old landlord refund his original security deposit? If not, if the renter doesn’t renew the lease, he loses his security deposit and can live there for 2 free months (60 days); if he renews the lease, do you expect him to put in another security deposit?
Between the sale date and the final possession date (15 or 20 ~ 60 days away, even longer if eviction), what insurance to buy? In addition to sending notice to owner or renter, what else should be taken care of?