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Dee, Other/Just Looking in 33442

If a home states"long term renter" does that mean if I purchased I could not move in until the lease is up for that renter?

Asked by Dee, 33442 Sat Jun 2, 2012

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Your bets bet is to call or email the listing agent who can easily answer that for you. It will depend if they have a lease and if there is a clause where it ends in the event of a sale.
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Sat Jun 2, 2012
Thx, we are looking to relocate to Murphy, not investment.
Flag Sat Jun 2, 2012
Maybe... You'll need to ask owner or agent to find out the term of the exisiting lease. It's a good place to start if you have a particular home in mind and are a " ready, willing, and able" purchaser.

Many time there is written into a lease agreement certain conditions which apply to a "sale" situation which allows the owner to give a 2 month notice to vacate if the home is sold.

Once again, you'll need to ask, but be serious about it before approaching an owner or agent.
0 votes Thank Flag Link Fri Jan 18, 2013
It will depend on the language of the lease,in most cases in North Carolina you will not be able to take possession of property until the lease has expired. Check with the leasing agent to get specific details about the lease.
0 votes Thank Flag Link Tue Oct 2, 2012
I would interpret it to mean that the RENTER had been there a long time;
not that they had a long-term LEASE.
I would think that someone that expressive would say LONG TERM LEASE, if that was what they meant.
If you do not intend to use it as a RENTAL, then you should find out.
If you do intend to use it as a RENTAL, then it doesn't matter yet; Nuh?
0 votes Thank Flag Link Sat Jun 2, 2012
Yes, that is correct............
0 votes Thank Flag Link Sat Jun 2, 2012
As a buyer of a second home or investment this could be the right home for you. Having a long term renter means you might not be able to move in or enjoy the property right away, but having that income makes mortgage payments easier. You'll want to see the Rental Agreement terms and length.
If you're looking for a great investment and lifestyle in the western NC or north GA mountains we'd be happy to assist you in finding some homes too. Lee & Carol Barbour - The Mountain Living Team info@leeandcarol.com
0 votes Thank Flag Link Sat Jun 2, 2012
If the buyer intends to buy an investment property then he or she will be happy to buy a property that already has a long term renter, and so you should inquire about the terms of that long term rental agreement, does it mean several months, or one year or 2 years.....

If you are working with a Realtor he or she will be able to look at the rental or lease agreement to see what your options are going to be if you are still interested to buy the property. Do not assume anything
look at the terms, have Realtor find out the facts, with a long term renter, why do the owners want to sell????? Lots of questions make sure you have an experienced Realtor assist you.

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0 votes Thank Flag Link Sat Jun 2, 2012
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