Home Buying in 35802>Question Details

A Burnett, Home Buyer in Huntsville, AL

A house was on the market for sale at least 2 years. Now I heard the owner is renting it out... Would/Could this house sale while being rented???

Asked by A Burnett, Huntsville, AL Sat May 31, 2014

I would be a first-time home buyer.

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Answers

3
It depends on the terms of the rental agreement. If the agreement is for a full 12 months then it would not be likely it would be for sale until near the end of that period. However, if the agreement is based on a month-to-month timeframe, then it might be for sale at any time.
1 vote Thank Flag Link Wed Jun 4, 2014
It could sell during the lease period but the law states that the tenant may remain in the home for the period of the lease, if they continue to pay as their lease states. If the property goes under foreclosure, the law is very different.

If it is an individual that purchases the home from the current homeowner, they may ask that the tenant to move but cannot require it because there is a legal binding contract in the lease. Sometimes they even offer "cash for keys" to help them make the move and if that's the case, it may be to the tenant's best interest to do so.

If it's a foreclosure, I recommend the tenant seek the advice of a local professional to understand their rights under the law as the laws have changed in the past few years.
0 votes Thank Flag Link Sun Mar 1, 2015
Selling a house while it's rented is common enough, but mostly with investment property. If the tenant has signed a lease, then they are entitled to stay for the entire period of the lease, regardless of any sale. Any obligations of the current owner under a lease would be conveyed to you as the new owner of the property for whatever period they apply for.
0 votes Thank Flag Link Wed Jun 25, 2014
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