Our landlord suddenly informed us that he has put our house that we are renting on the market. We have about 6 months left on our 1 year lease. Can he sell our house out from under us? Do we have to live with people coming to look at the house all the time? We cant afford to move right now, and we have a 3 year old daughter.. what should we do?
2007-03-10 11:26:23 · 9 answers · asked by scott.. . 1 in Business & Finance ➔ Renting & Real Estate
Yes, he has every legal right to sell HIS house. It won't be out from under you, the new owner will have to honor your lease. He is allowed to show your property during reasonable business hours, with reasonable notice. Notice varys state to state but is usually 24-48 hours.
2007-03-10 11:30:46 · answer #1 · answered by ? 5 · 4⤊ 0⤋
Wow, this really sucks. I'm so sorry that you're being hit with something like this! I would say the first place to start is by looking over your lease. See if anything is mentioned about what happens if the landlord decides to sell the house. There should be something like it in there since it's a house and not an apartment, and I'm sure that there's a section about what would happen if you were the one who chose to break the lease. You said you can't afford to move, but do you feel that buying the house from your landlord and paying a mortgage instead of rent is a possibility? Another option you can consider is speaking with a lawyer about your situation. They can help you figure out what you can do and what your rights are. Good luck!
2007-03-10 11:33:11 · answer #2 · answered by Sarah 3 · 0⤊ 0⤋
Yes, he has every legal right to sell the house, but in most circumstances and by most laws, NO he CANNOT insist upon showing the house at any time. He still needs to give you appropriate notice EVERY TIME he shows the house. The owner can either buy you out or must honor your lease, as when he buys the property, he also buys your lease unless other arrangements are made. Check your state's landlord/tenant statutes for further and more accurate information.
No provision in a lease will be upheld in court that is not in line with the state's landlord/tenant statutes. The law is on your side.
2007-03-10 16:18:52 · answer #3 · answered by sovereign_carrie 5 · 0⤊ 0⤋
Maybe yes, maybe no. First of all, it depends on your state laws. Next, review your rental agreement/lease and see if anything in the lease addresses this issue.
When a landlord sells a house to another investor, it is a bonus to have a good tenant in place. If the house goes to an end user who wants you to move, you may be able to negotiate moving costs to get you settled in a new place.
You may need to check w/a real estate attorney. This can be costly or not as bad as you think. If you have a pre-paid legal service plan through your job or individually, just call up for a free consult.
Barbara
www.therealestatebirddog.com
2007-03-10 11:38:03 · answer #4 · answered by realestatebirddog4 2 · 0⤊ 0⤋
Even if he were to sell the house quickly, it'll probably be three months before it closes and the new owner owns it. More likely, the way real estate has slowed down, it will take a couple months for him to find a buyer and another couple months to close, so you'll be almost to the end of your lease anyway.
And it is correct that the next owner will have to honor your lease, so no matter what you're fine. And for all you know the next owner will be an investor and want to keep you as a tenant anyway.
No biggie. I wouldn't worry about it too much. People sell rental properties every day with people living in them.
2007-03-10 18:32:25 · answer #5 · answered by axaroth 3 · 0⤊ 0⤋
Yes. Your landlord will have to give you at least 24 hour notice before entering the place with potential buyers.
2007-03-10 15:11:59 · answer #6 · answered by Mariposa 7 · 1⤊ 0⤋
Yes and it's probably buried somewhere in the fine print. The next owner will have to honor your lease until it ends, unless the two of you agree on changes.
2007-03-10 11:29:17 · answer #7 · answered by Venita Peyton 6 · 1⤊ 1⤋
State and municipal laws vary widely on this subject. Your best bet is to ask an attorney to review your contract.
2007-03-14 09:24:51 · answer #8 · answered by Anonymous · 0⤊ 0⤋
we are in the same predicament
2016-05-18 01:34:18 · answer #9 · answered by Anne 1 · 0⤊ 0⤋