We have our house on the market. Is it legal to sell if my tenants lease has not expired yet? They have 74 days left.
This entry was posted on Tuesday, May 24th, 2011 at 9:22 pm and is filed under Sell My House. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
May 24th, 2011 at 9:22 pm
It’s legal. If the new buyer is smart they will require you to remove the tenant before they allow the property closes. Other words, the closing time to be after the 74 days and the tenants have to moved out before closing.
I would suggest telling the tenants now that the lease will not be renewed and that they will have to move at the lease end, unless the new buyer wants the tenants to stay on after the lease period.
May 24th, 2011 at 9:22 pm
You can sell your house at any time.
In some states the new owners must accept the lease intact and continue to rent to the tenants until the lease expires. In other states, the lease is immediately terminated upon close of sale. Check your states laws to see which is legal in your state.
May 24th, 2011 at 9:22 pm
You can sell your house at anytime, however the new purchaser has to agree to the tenants lease agreement. Earnest money would have a clause Subject To. expiration of tenants lease in 74 days .And have notice sent to renters that the lease agreement, will not be renewed at end of lease agreement.
May 24th, 2011 at 9:22 pm
You may sell your home at any time regardless of the length or terms of your existing lease contract. HOWEVER, upon negotiating the sale of the property, you must fully disclose the terms of the lease to the buyer so they have the option to continue with the purchase with the full knowledge of lease they are essentially purchasing.
May 24th, 2011 at 9:22 pm
It’s YOUR house, not the tenant’s. You can sell your property any time you want.