Shaolin
02-16-2014, 11:07 AM
Hey everyone, I'm wondering if anyone have any experience with this. Since it's the weekend the RTDR is closed so I couldn't contact them.
I'm just in the process of renting out one of my properties to someone. The agreement has not been signed by me yet, as I'm waiting for the tenant to sign the copy so it can be scanned and emailed to me.
However, someone just called me this morning asking if I'm interested in selling the condo. The problem is, he wants to buy it for himself, and doesn't want to rent it out. I also didn't have an early termination clause or a clause about selling the property in the rental agreement (I only had a clause if the tenant left before the term is complete).
So I just want to know if anyone has any experience in handling situations like this. I'm not a lawyer so I don't know if there are any legal ramifications.
Again. I haven't signed the final agreement with the tenant yet as the tenant is sending me a copy of it with his signature. So I don't know if there are any obligations legally. I will be penalized for a couple of month's mortgage if I sold it now, and also I would feel pretty bad for the renter if I decide to sell to the buyer. But those are just indirect issues I need to consider.
Thanks.
I'm just in the process of renting out one of my properties to someone. The agreement has not been signed by me yet, as I'm waiting for the tenant to sign the copy so it can be scanned and emailed to me.
However, someone just called me this morning asking if I'm interested in selling the condo. The problem is, he wants to buy it for himself, and doesn't want to rent it out. I also didn't have an early termination clause or a clause about selling the property in the rental agreement (I only had a clause if the tenant left before the term is complete).
So I just want to know if anyone has any experience in handling situations like this. I'm not a lawyer so I don't know if there are any legal ramifications.
Again. I haven't signed the final agreement with the tenant yet as the tenant is sending me a copy of it with his signature. So I don't know if there are any obligations legally. I will be penalized for a couple of month's mortgage if I sold it now, and also I would feel pretty bad for the renter if I decide to sell to the buyer. But those are just indirect issues I need to consider.
Thanks.