House I rent from landlord has been foreclosed on-lots of fun twists here

[Kevin McIntosh]

I am renting a house in middle TN. Renewed 1-yr. lease on May 1 of this year. My monthly rent payment goes to the Property Mngt company who acted as the agent on behalf of the owner (Leasor) in our lease agreement.

Got a notice in late June from an attorney's office that the house is being foreclosed on. Property Mngt company (a local Remax office) didn't know anything about it. I paid the July rent. Property mngt said I should keep paying rent and their attorney told them to put it in an escrow account.

Today, just found out the owner died last August (Property Mgnt company has never told me that). House is due up to sell this month on courthouse steps.

My hunch is the house will go back to the bank--it looks like about $5k more is owed on it than exact same houses on my street sell for and nobody has come to look at it; not an investor deal and no private purchaser would buy sight unseen.

What are my rights now as the renter?

I don't know who has been cashing those rent checks since August (maybe the owner's widow).

However, I would be interested in seeing my options for purchasing the house if there's a way it can be a decent deal.