Rental Basics in Houston>Question Details

Tornado, Other/Just Looking in Houston, TX

how difficult is it to sell a condo with a tenant in it. lease through 12/31?

Asked by Tornado, Houston, TX Mon Jun 11, 2012

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3
Mark Mcnitt, ABR’s answer
Tornado,

It can be sold through a Realtor just like any other property. If you (or your Realtor) are able to take good photos, keep the showings to "real" buyers with your Realtor escorting them into the home and price it for investors, it could be sold as there are many investors looking for condos....one with a paying tenant even better!

The lease is still in effect so only those investors could purchase. As you get within 45 days of the end of the lease, then any buyer could purchase as their closing would take that length of time to finish.

The key is priced correctly! Let us know if we can be of some assistance.

Mark McNitt
m 832-567-4357
Bernstein Realty
0 votes Thank Flag Link Mon Jun 11, 2012
Yes - it is done all the time. You can visit a website and out in information and have investors review the property. http://Www.HandHrealestatesolutions.com
0 votes Thank Flag Link Mon Jun 11, 2012
It's possible ... but a written lease must be honored, no matter who owns the property. In most cases, only an investor would be interested, since there's a lease in effect until the end of the year. You could try to approach the tenant and offer to buy out the lease, but he/she is under no obligation to accept. A lease is a contract binding on both parties. If you wish to proceed, I strongly suggest that you contact an attorney. I wish you well.

Al Geffon
Web Reference: http://www.har.com/algeffon
0 votes Thank Flag Link Mon Jun 11, 2012
You need to discuss the matter directly with your landlord. If you know that he/she wishes to sell the unit, it could work out favorably for both parties ... but bear in mind that many investors view such a situation as a positive ... a tenant in place through the end of the year. You'll never know where your landlord stands until you ask. Best of luck ...
Al
Flag Fri Jun 15, 2012
I am the renter and want to be let out of the lease so it can be sold. I do not want to buy this unit for many reasons. how should I propose to be let out of the lease
Flag Mon Jun 11, 2012
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