Landlord to tenant sale - avoid property manager (tenants, 8%, clause)

[longhorn1030]

Hello I hired a property manager to find me a tenant last year. They have been managing my property in Montgomery County, MD and take 8% a month. Tenants lease is coming to an end and they have expressed an interest in purchasing my property off market. Can I do this transaction without involving the property manager? I am obviously trying to avoid realtor fees. I looked through my contract with the property manager and #21 and #22 are crossed out on GCAAR form 1202. See attached. Should there be any issues that I am not aware of?

[kokonutty]

Originally Posted by longhorn1030

Hello I hired a property manager to find me a tenant last year. They have been managing my property in Montgomery County, MD and take 8% a month. Tenants lease is coming to an end and they have expressed an interest in purchasing my property off market. Can I do this transaction without involving the property manager? I am obviously trying to avoid realtor fees. I looked through my contract with the property manager and #21 and #22 are crossed out on GCAAR form 1202. See attached. Should there be any issues that I am not aware of?

It looks like those clauses are not part of the contract because the specifics were not filled in and those sections were specifically crossed out - they do not exist. As long as no clauses have been added to that boilerplate contract adding in any obligation that you agreed to, you're good to go.

Since you will not be using a broker to assist in the sale process it appears you will have a lawyer draw up the contract so just have them confirm you have no obligation to the property manager when you start the process.

[luv4horses]

As far as I know, cross outs may not be completely defendable unless all parties to the contract have initialed them.

[JONOV]

Since you should have an RE attorney draw up the paperwork for te sale anyway, ask them.