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I'm currently looking at a building that has a available a mix between units that are for sale, for lease and some simultaneously listed in both categories. I'm very much in love with one particular unit which, unfortunately, is not for sale.
My general question, I suppose, is what would be the best way in which to go about asking the agent representing the unit if the sellers would be open to leasing the property?
I'd obviously prefer to have a straight up lease for X months but, because of the extent to which I love the idea of living in this place, would be willing to enter into some sort of arrangement in which the sellers could still have the unit on the market and continue showing it. Essentially, I'd be banking on them not finding a buyer for a while.
Just how uncommon would this secondary proposal of mine be and, ultimately, does anyone have any tips regarding how I could convey this desire to the agent and/or seller?
The answer will depend upon why they are selling. If they need to sell to buy another property the answer will be different than if they own it outright. This also can be a disadvantage for them in selling. The property is probably empty so it's always clean. Buyers and their agents can drop by without the extra step of providing notice (usually 24 hours) to a tenant, and some buyers may not want to wait to move in while waiting for your lease to be finished.
We lived in a house for 3 months, which was for sale, while our house was being completed. It worked well for the sellers because they had moved out, the house had been vacant for nearly 6 months and for sale for longer than that.
I'm currently looking at a building that has a available a mix between units that are for sale, for lease and some simultaneously listed in both categories. I'm very much in love with one particular unit which, unfortunately, is not for sale.
My general question, I suppose, is what would be the best way in which to go about asking the agent representing the unit if the sellers would be open to leasing the property?
I'd obviously prefer to have a straight up lease for X months but, because of the extent to which I love the idea of living in this place, would be willing to enter into some sort of arrangement in which the sellers could still have the unit on the market and continue showing it. Essentially, I'd be banking on them not finding a buyer for a while.
Just how uncommon would this secondary proposal of mine be and, ultimately, does anyone have any tips regarding how I could convey this desire to the agent and/or seller?
You say your favorite unit is "not for sale". Do you mean "not for rent"?
You could approach this through the owner if you are familiar with him or through his agent. If it works out, you would, of course, have a legal rental lease signed.
It's not an unusual thing to ask about renting a place that's for sale, imo, so you're probably asking how to make your inquiry seem attractive.
For one thing, you should check on the owner. You want him to be a good risk and not run with your money and not be behind in his mortgage payments and association payments so that you move in and are locked out of the unit one day.
If it hasn't been on the market long you would need to stress how flexible you are while still paying rent to the owner. If it's been on the market a while, even better. Some ideas...point out how the place shows now and how well it would show with your stuff/with any stuff if it's vacant. Stress that they can still have the lockbox up; that they can show any time; that you have no pets or children (?); that you can watch the appropriate heating and cooling so nothing freezes or gets too humid and ruined; you can have live attractive plants; you will keep it clean and dusted; if there are known security issues, you can be a good presence with lights on and off; you would be happy to set the stage if you are told buyers are coming....lights on, whatever is cool such as soft music or not, always always spotless and never messy. It would be good if you're a decorator
You would be happy to pay a certain number of months in advance. This can be a good thing for someone trying to sell the unit for some time and who might be happy with some money coming from it in a large sum. You don't want him to back off if he feels tied to you for several months when his hope may be to sell. Yet you want your sum of money to look attractive to the owner. So you need to hit the sweet spot on that. You could say you'd be happy to pay 6 months in advance with deposit additional or two or three months if the owner prefers....give him a choice.
If it is for sale (your post is ambiguous), is it not possible for you to buy it for yourself? There are still a few first time buyer programs that will help with the down payment issue. You know you like it and a mortgage payment should not be any higher than rent.
If the owner agrees to rent it to you month to month, you could be moving again very soon, especially if that is the best unit in the area.
If you want to rent, I suggest one of the units in the same building that is offered for rent. That way you can get your lease and know you are settled and don;t have to move again for at least a year.
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