I want to take my home off the market and possibly rent as it has not sold in the 5+ months that it has been listed. Is there a provision that would not allow me to sell on my own for a period of time if I had renters who decide to buy?
2007-07-30 14:13:22 · 4 answers · asked by melissa c 1 in Business & Finance ➔ Renting & Real Estate
Never heard of such a thing. You can sell whenever you want as far as I've ever known. If you have renters living there, and they want to buy it, everyone's happy. If you have renters there and someone ELSE wants to buy it, you just have to give the buyer and seller a reasonable amount of time before the change takes place, mainly so the current renters can find another place.
But again, never heard of something prohibiting you from selling on your own within an amount of time.
2007-07-30 14:19:46 · answer #1 · answered by pancakes & hyrup 6 · 1⤊ 1⤋
Your only hold back should be the time of the agreement with the realtor. When that is up you can take it off the market, rent it, sell it, tear it down, etc. It is your house. Should you rent it you will enter into a contract with the renters that has a clause saying the term of the rental agreement. You can still show it during that time, make it clear to them that you will be doing this. Also if you find a buyer who wants to buy before the rental contract is up, you can give your renters incentive to move out.
2007-07-30 21:23:23 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If you have a contract with the realtor then the contract should state the duration. The standard is a six month listing. What does your contract say?
If your contract is month to month then you can take it off the market at the end of a given month. If you are not happy with the services of the realestate agent then you can probably terminate the contract on those grounds.
If you plan on breaking your end of the deal and selling the home to someone who has come through while the home was listed with the realestate agent and the agent finds out about it then the agent could take you to court for the commission.
2007-07-30 21:20:29 · answer #3 · answered by Mr. G. 2 · 0⤊ 0⤋
Laws in each state are different, but if you have a buyer, you could sell it tomorrow where I live. You can sell up to 5 houses per year without a Realtor's license, unless they have changed the law since I was a Realtor. You should check the laws in your state to see if there are conditions, however, and there usually are SOME conditions.
2007-07-30 21:18:12 · answer #4 · answered by Paul Hxyz 7 · 0⤊ 1⤋