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Updated over 7 years ago on . Most recent reply

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Eric Frentzel
  • Los Angeles, CA
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Bought CA non judicial foreclosure-when does liability begin

Eric Frentzel
  • Los Angeles, CA
Posted

I bought a house in a California non judicial sale. I got a receipt from the auction place, but the title company is saying it will take a month before I  receive  deed. 

Am I still considering owner now? Should I get dwelling a insurance now? 

Also, the house has tenants that I will need to evict, should I get liability insurance to protect against any claims they might come up with? 

This is my first time doing this and I really dove in the deep end - wanna make sure I'm doing it right. 

Thanks for any help! 

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Ron S.#3 Foreclosures Contributor
  • Paradise, CA
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Ron S.#3 Foreclosures Contributor
  • Paradise, CA
Replied

the day you were successful bidder is the day you "own" it. You can use the receipt they gave you for documentation until you get recording information. Yeah, i'd get insurance now and start your eviction process.

Congratulations!

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