Legal Question in Real Estate Law in Wisconsin

Real Estate Foreclosure--When Does the Former Owner Really Need to Vacate?

Generally speaking, the sheriff's sale and its confirmation in WI usually occur from nine to 14 months after commencement of the foreclosure suit, although this time period is subject to extreme variation. However, even after the sheriff's sale confirmation, but within the appeal period, the filing of a good faith chapter 13 bankruptcy can sometimes enable one to reinstate a mortgage and remain in possession. In the current real estate market, the bank might not even object, depending upon how good the sale price was (although the buyer might). Short of a bankruptcy filing, the sheriff will generally contact any occupants with a final "move out" date; that being when the sheriff will move you out and put your property into storage for eventual sale to cover storage and moving fees. That date is the "real deadline" to leave. Such writs normally must be executed within 10 days of issuance. Of course, one always negotiate with the new owner to remain in the property. Many sheriff's sale bidders are professional investors who may prefer a paying renter to a vacant money loser. This response does not constitute legal advice--you really need to retain your own lawyer. Many lawyers will monitor a foreclosure for you in order to answer your questions (without contesting it) for as little as $200.00.