The house Im renting is going up for sale? What can I do? We signed a lease for a year.

Asked by Cynthia Howard, Livermore, CA Mon Apr 15, 2013

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Henry Brooks, Agent, Ripon, CA
Tue Apr 16, 2013
Hello Cynthia,

Based on your information below, it seems you are now be able to stay through the lease, but you should start preparing to find another rental or possibly even qualify to buy your own home! Call or text me anytime to chat more about your options and get connected with a preferred lender in your area! Thanks your Friend & Realtor, Henry Brooks 209-814-0119
Web Reference:  http://www.realtorbrooks.com
0 votes
Tracy Parker, Agent, San Ramon, CA
Mon Apr 15, 2013
Cynthia, I would send her an email that states, thank you for explaining to me the situation....as we discussed (and then write as closely as possible what was discussed) . An email will stand up in court and does not cause any alarm bells to go off by writing up a document and having it notarized. If you have misunderstood anything in the conversation she will correct it in email.

Sounds like you are good for now,

Tracy Parker
Prudential CA Realty
0 votes
Cynthia Howa…, , Livermore, CA
Mon Apr 15, 2013
Thank you, all of you for your responses. The owner said we could remain until the end of the lease. She said her ex husband who is on the loan, not the title wants to sell the property just out of spite. The owner said she priced the home at top dollar to try and delay a sale. We are in good standing with our lease. Should I write a letter of terms and have it notarized just as a protective measure? Another question, would a lease-option to buy be possible in a situation like this?
0 votes
Tracy Parker, Agent, San Ramon, CA
Mon Apr 15, 2013
Hello Cynthia,
I can imagine you are very upset at the prospect of having to up and move when you were not expecting to have to. The information you have been given in this forum is helpful, especially the handbooks for your rights as a tenant. I would suggest you speak with the owner of the home and find out what solution they are offering you to deal with your lease. The owner may need to sell the home or they will lose it. They may have another pressing financial problem and have a buy out proposal for you to move early, OR the home they are selling is a great investor property and are planning to sell to an investor and part of the value of the property is the long term leases (this is common). It is important to understand the situation - there may be no reason to worry. If you are going to have to move, it is best to find out your rights and work with the owner to make sure you treated fairly and can move to a new home. If it turns out you need to plan to move it is much easier to just do it. Nothing is more upsetting than to struggle with landlord or not know when or where you will be moving. Remember, your quality of life is the most important consideration.

Hope it all works out for you.

Tracy Parker
Prudential CA Realty
0 votes
Tammy Yau, Other Pro, Livermore, CA
Mon Apr 15, 2013
You have the right to remain in the lease for the remainder of the year at the property unless it is a short sale and the seller is in distress then they have the right to give you a 30 day notice to vacate once in escrow. If your lease is expired, then if you've been there for 1 year, they can give you 60 day notice to vacate, and less then a year 30 days. You should cooperate in the showing of the property with proper 24 hour notice. New owners will become your new landlords and deposits should/would be transferred to the new owners.
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Pacita Dimac…, Agent, Oakland, CA
Mon Apr 15, 2013
If you haven't violated terms of your lease, generally, your lease is honored; and if someone buys the property, you can exercise your right to stay there until your lease ends.

The new owner may want to continue having you as a tenant. Or you can ask for cash-for-keys to help you with your moving expenses if you move out sooner than when your lease ends.

Consult the California Landlord Tenant Handbook
http://www.dca.ca.gov/publications/landlordbook/
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JoAnn Wheeler, Agent, San Ramon, CA
Mon Apr 15, 2013
Hi Cynthia,

It depends on what your lease says. If you have been in the property for less than a year he needs to give you a 30 day written notice. If you have been in over a year he needs to give you a 60 day written notice.
I am a leasing agent for rentals also and if you need help please let me know.

JoAnn
0 votes
Vickie Nagy, Agent, Palm Springs, CA
Mon Apr 15, 2013
Hello Cynthia,

Homes in CA are sold subject to tenants rights. If you have a valid lease you have rights. Google "Tenant's rights handbook CA." Your home an be sold to another investor who will honor your lease. Things can get murky if its a short sale.

Kindest Regards,
Vickie Nagy
Associate Broker, BMC
0 votes
Carla Winter…, , Livermore, CA
Mon Apr 15, 2013
Cynthia,
Can you or do you want to try to buy the property you are renting?
0 votes
Michael Koen…, Agent, Pleasanton, CA
Mon Apr 15, 2013
Hi Cynthia,
When did you enter your lease?
Has the current owner attempted to end/cancel your lease?

Please provide some more details, so we can better help you.

Thanks.

Michael
Web Reference:  http://www.cpbpm.com
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