(Closed) Any bees renting a house that’s on the market? I have a legal question.

posted 7 years ago in Home
Post # 3
Member
1137 posts
Bumble bee
  • Wedding: September 2010

Did they specifically tell you that the house will continue to stay on the market once it is rented? In my area, it is not uncommon to list a house for rent or sale, and if it is rented, you take it off the market and re-list it when the lease is up.

Post # 5
Member
492 posts
Helper bee
  • Wedding: July 2011

What does your lease say happens if the house is sold? Ours was listed aa both for rent and for sale and our lease says that we would have x days notice to vacate if it were sold. We did not like that and were unwilling to take that risk so the owners agreed to take down the for sale listing until out lease term was nearly up.

Post # 6
Member
1137 posts
Bumble bee
  • Wedding: September 2010

I don’t think it’s anything to be very stressed out over. Usually if a person intends to rent out their property and still keep it listed for sale, they are very up-front about it. It would be a big waste of everyone’s time if they didn’t tell you until you went to sign the lease.

I have a very good feeling that they intend to take it off the market while you are renting it and put it back on when you move out. It’s actually in the best interest of the owner to do that because the market is so down right now, it buys them time and covers their expenses while they wait for the market to rebound.

Do you have their phone number or email? Just ask them. Also, I would definitely review the lease and make sure that you are signing a term lease (1-year vs. month to month). If it is a month-to-month, either party can end the lease by giving 30 days notice.

Post # 8
Member
2216 posts
Buzzing bee
  • Wedding: August 2012

When I was looking for houses, there was one on the market that was a short sale and it had people living in it renting.  The renters were all kinds of pissed when they found out the house was on the market.  Realtors tried to show the house to potential buyers, but the renters would not cooperate. 

Post # 10
Member
772 posts
Busy bee
  • Wedding: December 2011

OMG don’t do it.  Many totally unscrupulous people who are in or near foreclosure will list for rent and sale, cash the rent checks and sell the place out from under you if they can.  If they are desperate many don’t care, and sometimes they don’t even forward the checks to the bank but keep them.  Foreclosure has become a huge problem for renters due to this. 

Even if they are totally above board, if they sell to a new owner who wants to owner occupy, many states only give you 30 days notice to quit. 

It is only worth doing if you have them agree to take the house off the market when you rent, or put something in your rental contract stating that if the house sells before the end of the twelve month period of your lease that they will pay your moving fees or some pre set amount to cover the move. 

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