Home Selling in Kansas City>Question Details

sree32, Home Buyer in Kansas City, KS

Can I sell my house in Kansas that I am already renting out to someone?

Asked by sree32, Kansas City, KS Wed Nov 7, 2012

I have renters but would like to put my house up for sale. My question is: If someone buys it do the renters have to move out if the new buyers don't want to rent it but live there themselves? I have a year lease with the tenants but the lease also states that they are aware that the Leased Premises if for sale. I guess I'm also asking if the house sells am I still obligated to the terms of the lease or is it now up to the new owners and does the sale of the house override the lease?

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Sharon Klein’s answer
You can certainly sell the house, but if the tenants have a lease the new owner must honor that lease until the end of its term. You have some very viable options:

1. Sell to an investor. If you have a good tenant in place, it is more attractive to someone who is buying income property.
2. Sell to the tenant. If your tenant doesn't want to move, they may be able to buy the house. There are several programs for first time buyers to help them get into a home of their own.
3. Offer the tenants a buy-out. If the tenants don't want to stay and the new owner wants to occupy the property, you can offer the tenants something to move, such as cash, a month's free rent, etc. The compensation is negotiable between you and the tenants.
0 votes Thank Flag Link Wed Nov 7, 2012
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