Orange County

[pSky]

Curious about this property and what is in the REMARKS

[BobPhillips-RE]

The property has a long term tenancy, and the lease isn't up until 6/1/2013, so, whoever buys the place has to honor the lease.  

If you're thinking of buying it as a rental, unless you intend to pay cash, most lenders require you to put at least 25% down.

What else would you like to know.

[socountybuyer]

It is also a short sale and you must take the property "As Is" - Sounds like cash only on this one.

[scfan]

if a lender forecloses on a home that the owner leased out before getting foreclosed on does the lender have to honor any part of the lease or can the lender kick out the tenant?

[BobPhillips-RE]

The lender has to give the tenant at least 60 days notice - and it may be 90 days.  Obviously the tenant, in such a case should consult an attorney or the local Fair Housing Council, to find out their options, one of which MIGHT be to stop paying rent.