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Property Q&A in Lowry Park North : Real Estate Advice

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  • Home Buying0
  • Home Selling0
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Activity 3
Tue Sep 25, 2012
Maria Estrada answered:
This is a Fannie Mae property. It is not a 55+ community. HOA is approx. 250 a month. All that has to be confirmed.
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Wed Aug 15, 2012
Lynn Brock answered:
Nenacrvs,

If you are interested in purchasing this property and residing in it as an owner occupied, according the disclosure (you presented), it is currently tenant occupied. The current tenant wants to stay and continue to lease the property with the new owner. Thus, the property would remain as an investment property.

Your question indicates that you might like to consider living in the property yourself. First ask to see a copy of the current lease agreement. If the tenant is an annual tenant and the lease indicates that the sale of the property would be mid year of their annual lease, then the tenant has the right to reside in the property until the lease expires. As the new owner you are not obiligated to renew the lease however, you would have to provide notice to the tenant that you do not intend to renew the lease and give them adequate time to find a place to live.

Or you could buy out the lease by paying the remaining monthly rental amount to the resident tenant so that they move on on a specific date as determined by the lease buyout.

Good luck

Lynn Brock
Brock Realty Inc.
941.313.1234
www.brockrealty-inc.com

If you'd like to search the MLS like an agent in real time, you can visit our website and sign up for a free Listing Book account. You will be able to change the search criteria to suit yourself and received morning reports regarding new listings, price changes and recent pendings.
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Wed Jun 27, 2012
Lynn Brock answered:
Nicole Hollar, The pictures associated with the property were provided by the listing agent. They are obligated to provide one picture. In this case 11 pictures were uploaded. If you'd like to see more pictures, then it would be best to set an appointment to see the inside of the property for yourself. You may have particular features that you are seeking and by visitng the property in person you would be able to view everything to satisfy your curiousity.

Best regards,

Lynn Brock
Brock Realty Inc.
941.313.1234
www.brockrealty-inc.com

If you'd like to search the MLS like an agent in real time, you can visit our website and sign up for a free Listing Book account. You will be able to change the search criteria to suit yourself and received morning reports regarding new listings, price changes and recent pendings.
... more
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