Selling Condo with Tenant

[ROI_10]

Hi,

I would like to sell my condo but I currently have a tenant there. What is the protocol are far as what is acceptable and what is not acceptable when trying to sell when it is occupied. Is this even a good idea? What if the tenant is a slob?

I appreciate any feedback.

[REOPro]

Hi,

Your lease, if properly done, will have the protocol for selling your property while occupied by a tenant. Basic protocol will be that you have the right to have the property viewed by prospective buyers during "Normal" hours (9:00am - 7:00pm) providing you give notice to your tenant. I recommend that you set two or three days a week that you and the tenant agree the property can be shown and have the tenant take "extra" care cleaning up on those days. I have sold many properties that were occupied by tenants, but I always had the tenant in agreement before marketing the property. If the tenant is not cooperative, you can make the tenant and an offer to vacant early. I have given back deposits with interest, help them find another rental, offer to sell to the tenant first etc...

[ROI_10]

Great advice thanks. I do believe I have a selling clause in the lease. Now, lets just hope the market picks up!

[sersol]

Whach out ¡¡¡ They are trying desperate to reinflate the market with many new formulas (refinancial) That will means they will pass the problem for latter times, while they also pass the mortgage to some other speculator. I live in Mexico and we had a very similar problem in 1994. The banks offer a “better” deal to those in problems.. Many accept the new deal, that turn out to be worse after 3 years. The key point it was the legal aspects of the “new deal” legal terms in the new contract “mascarade” with a new “rate”

[David Kastner]

Nice Thinking if you give the ad an news papers for selling your house and with tenant it a great opportunity or source of incoming.

http://www.Groupe369pr.com

[Dan Yurdiga]

No,it is not a good idea. You have a verbal contract as the landlord
of your tenant. They may sue you for their renting rights.
It is good too sell a property without any obligation attached to it.
Surely, when you found a buyer and knows about the tenant matter the
buyer wouldn't like it.

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