Legal Question in Real Estate Law in Oregon
Short sale
Can a home owner stay in their home aftere a short sal
2 Answers from Attorneys
Re: Short sale
It depends on what the buyer (new owner) of the house wants to do. The buyer could allow the previous homeowner to stay and rent the house, or the buyer could demand that the previous homeowner leave.
Re: Short sale
After a short sale, the former owners of the property are no longer owners. If the new owners (who bought the property following the short sale) want to evict the former owners, they can. If the former owners and the new owners wish to negotiate a rental agreement (where the former owners become renters), then that is OK. The bottom line is that if the new owners think it is OK for the old owners to stay, then the old owners can stay. But it up to the new owners.