QUESTION
Buying a home 🏡
If you want to buy a house that is currently rented out by owner, wouldn’t your own agent set up the conditions/timing of tenants move-out?
I’d never frigging buy a house & continue renting it out. Oh hell no.
@Anouk tenants rights within their lease supersede the ownership. That’s to say that renters get protection from being thrown out of a home when ownership changes.
It is common for an owner to transfer the lease to the buyer or offer to purchase the remainder of the lease and ask the tenants to move. Even in that scenario, most tenants will have 30 days to move should they take the offer.
@Coffee_and_Salt
Ok! Thank you!
My condition for purchase would be “no tenants”. Lol
I want them to have 3 months to move out, *before* I actually pay for it.
I’m ok with a contract stating that.
Freeze my money somewhere until conditions met.
@Anouk three months is considerate. It’s rough on a tenant when they learn their home is being sold. Cool of you to prefer not to displace someone. 💚
For a lot of people, buying a property that is already rented out to reliable tenants is considered an advantage. The rent usually covers the mortgage payments.
@AlphaCentauri @Coffee_and_Salt
I’d want to live in it though.
The idea of being responsible for a house that I don’t live in is extremely foreign to me.
I’d have an ulcer in a month. Lol