If a foreclosure has already occurred on your property you have lost title, but not possession. Possession is a separate right that can only be taken from you by the due process – meaning personal service of an Unlawful Detainer lawsuit. You may be prepared to vacate your property immediately after a foreclosure, but many people aren’t and they want to delay possession as long as possible.
Prevent a Bona Fide Purchaser Purchasing Your Property
A bona fide purchaser is a protected third-party who has acquired clear title and the right to evict a foreclosed homeowner. The way to avoid a bona fide purchaser buying your property in a foreclosure sale is a lawsuit and lis pendens filed and recorded before the foreclosure sale occurs. No buyer can be a bona fide purchaser once a lis pendens is recorded because they have CONSTRUCTIVE NOTICE of the litigation by the recorded Lis Pendens. It is the duty of the buyer to check the county records for any Lis Pendens, which gives them notice of the litigation and takes away any protections.
It is for this reason that investors don’t usually purchase properties that are in litigation. That means that your sale may still occur, but it will likely be a sale back to the investor. Investors are not usually as aggressive as third-party purchasers in evicting a homeowner after a foreclosure.
If a Bona Fide Purchaser Has Purchased Your Property
A bona fide purchaser has the right to evict you, but there are still things you can do to fight eviction and delay it. The sooner you begin to strategize regarding delaying possession, the more likely you will be able to be successful in doing so. If you start the moment you receive service of the Unlawful Detainer, there are more strategies available to you. If you wait until the sheriff is coming with a NOTICE to VACATE the problem is too far gone for an attorney to help you or for you to help yourself.