Anyone can break any contract - IF the two parties agree in writing (in this state of MA), and it may cost you - assuming you're the landlord. Everything has a price which is where the "cash for keys" offer, mentioned by Tom, may come in handy. If, as Chris mentions, there is already a provision in the existing lease, you would need to abide by what has been written. Otherwise, the two parties may come to a new agreement, and set that down in writing accordingly. If your question is just in general terms where a new owner (after Closing) just wants a tenant out, but the tenant has a written lease, and has not broken that lease already, then, as Kevin states, the short answer is "no." Any new owner (again, after Closing) would be wise to ask for copies of leases directly from the tenant, and copies of rent rolls and security deposit from the previous landlord. Tenants may also have copies of canceled checks, so that is also helpful. If neither the tenants nor the previous landlord cannot produce anything in writing, then the question of whether there is a valid lease in place is raised. Again, if you're a potential landlord, and depending on how good a deal is, it would be better to ask for these items prior to purchasing and Closing on the property. But, if the deal is an absolute steal, and is just too good to pass up, then it would be wise to keep some liquid cash available to persuade someone to leave sooner rather than later, or get ready to pay an attorney a retainer for the possible eviction process. It all depends on the two parties involved, and whether they are willing to put their new agreement in writing - even if that includes moving out. It is wise to check with your attorney on these matters because even one small detail can change things. So, if this was a general question because you're thinking of becoming a landlord, there are many good books out there, and some are even specific enough to discuss the laws of the state you're in. Further, you can also brush up on landlord and tenant's rights by conducting good research in your state and using your state's resources. If, however, you're a tenant who cannot come to an agreement with the new landlord, the same generally applies. Look up Tenant's Rights in your state, but if you have nothing in writing, and especially if you're not paying your rent or have broken your lease in any way, then it would be wise to make plans to move - because move, you will, one way or the other. Good Luck!... more
I dont know of any rules that prohibit renting to people you know who receive sec 8 as long as the proeprty meets the quailifications of sec 8. Remember one of teh cardinal rules though, never do business with family and friends. Make sure you trust them if you are going to rent to them. Its not worth liosing a friendship... more
If you wish to keep them as tenants, do have a discussion with them--if they wish to vacate before the lease ends, do review the lease as the answer may be found in the document, or consult with an attorney who specializes in real estate and have all related documentation reviewed--then go from there.... more
Yes, the bylaws are agreed to by all the unit members - it's a condition of ownership. Most condos on a square foot basis sell cheaper than homes, and one of the reasons is that you are giving up some freedoms to be in an association. Good luck!
Matt Heisler is a real-estate professional and owner of Heisler & Mattson Properties. He has been selling residential real-estate for over 10 years. He has given several talks on real estate, including presentations on first-time buyer tips & tricks, and profiting in real estate investing in Massachusetts. As a Vanderbilt University alumnus, he is proud to serve the communities of Natick, Framingham, Medfield, Millis, Holliston, Hopkinton, Southborough, Westborough, Northborough, Grafton, Marlborough, Shrewsbury, Worcester, Milford, Charlton, Northbridge, Sutton, Hudson, Sudbury, , Clinton, Boylston, and West Boylston. His company website can be found at http://www.bjheisler.com, and his Metrowest Blog can be read at http://HomeSellingInMass.net.
*All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.... more
Once you and an Buyer have come to an agreement, you can pay for the services of a real estate agent to prepare the P&S (using forms approved by the MA Association of Realtors or MA Real Estate Commission. They can also provide the various disclosure statements that you would complete and sign. This would not be true representation, but simply providing a service which you would pay for.
I recommend Phenix Title for you title work and closing. Their Massachusetts office is located in Burlington, and a real estate attorney can check over all paperwork for you. Compare costs and services. As an agent licensed in both Mass and New Hampshire, I can tell you that title companies routinely take care of 98% of all the closings in New Hampshire. The Buyer's bank may also be able to offer services but keep in mind that they work for the BANK and not for the Buyer and certainly not for you, the Seller.
I'm sorry to hear that you feel you don't have the option of paying a commission. If you decide that you'd at least like to explore that option, please feel free to get in touch, maybe I can help. I wish you all the best, in any case...
All of the questions here are good answers I am a loan officer and Brent and Mike are absolutly correct...If you have any question in reference to your mortgage concerns please call our office at 800-695-8031... more