Hi, I noticed this house is for sale also, if we were to rent it will it be sold out from under us?Janet

Asked by Janet, Arkadelphia, AL Wed Aug 17, 2011

We are interested in renting it only, thank you....Janet Lemke

This question is about this property: http://www.trulia.com/rental/3056335544-5626-Grand-Oaks-Dr-L…

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Dave Sutton, Agent, Portland, OR
Wed Aug 17, 2011
It would not be unusual for an owner to want to sell for more than the current market will provide. Given that, and the strong rental market, a seller might very well be happy to have a one-year lease. Typically, those turn in to a month-to-month after the end of the 1-year lease, but you can make it read any way you and the landlord will agree to.
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Craig Loughr…, , Oregon
Wed Aug 17, 2011
There is no listing of this property for sale in its local brokers multiple listing service. If the property is vacant, take care that you are dealing with the actual representative of the owner or with the owner himself. There are occasional scams all around the metro area, including Lake Oswego, that try to rip off potential renters.

If the property has a "for sale" or "for rent" sign, call the broker or office named on the sign. If there isn't a name, be careful. In all cases, don't give money to anyone until you have been given proof in writing as to the identity of the person you're dealing with, and that person's authority to act on behalf of the owner.

Once you have that all clarified, and you have been told by the owner or property manager that the owner is planning to sell the property also, then you should get some protection by following the suggestions of the other people who posted below.

Best of luck!
Web Reference:  http://www.bybryson.com
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Kim Childs, Agent, Portland, OR
Wed Aug 17, 2011
In this strong rental market and where housing prices have been lower than what some buyers are willing to sell for, you often see where a home is marketed for sale and for rent at the same time. The seller/lessor will often see which transaction occurs first - renting or selling. If you ask for a one year lease (and not a month to month rental), you should be set. The Seller could possibly try to break the lease - but be sure you include some negative monetary clause in the lease to cover that. The Seller could also possibly sell the home subject to the lease, meaning the lease stays in place if the home is sold, in which case, the lease you signed would still be intact.
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Judy Tobolski, Agent, Lake Oswego, OR
Wed Aug 17, 2011
It will all depend on the terms of the lease- so have a detailed conversation with the landlord and then read the fine print on any rental agreement. For example, they may rent it for a year with showings allowed the last 90 days of the lease period, or they may want to be able to show it all the time and cancel with 30 days notice. Generally landlords who are also attempting to sell at the same time will give you a break on the rent in return for the inconvenience and uncertainty this type situation creates. If you can live with that situation, you may get cheaper rent.
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HLR, , Oregon
Wed Aug 17, 2011
If you rent it, just put in the contact that you want it for a length of time that works for you, if it does not for them, they will ask for a different time frame, and that too goes for if it sells, they have to give you notice and an allowable, reasonable time to move. So if you want it for at least say, 6 months, say so, and after that time, if it has not sold do it again for another few months. Most likely why it as not sold,and now noted as a rental is because it's over priced for today's market.

Best to you all.

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