Condo Purchase Question in Clearwater (Tampa: for sale, renter, condos) - Tampa Bay - Florida (FL) -Tampa - St. Petersburg - Clearwater - City-Data Forum

taurus430 · 12-10-2013, 06:12 AM

I'm looking to put an offer in on a furnished condo in Florida. I really like this place and the price could be nice. My Realtor told me that the condo was leased for 4 months starting mid Dec or Jan by a snowbird. She said the lease has to be honored. The renter didn't arrive yet, can't she break the lease since she doesn't own the property? I'm in NJ, I really don't want the headache of a renter and not knowing how the place will be left. If something goes wrong, I can't be running down there. Should I tell the Realtor I will put an offer in, but the place has to be empty by closing, and that could be within the month? This is a cash purchase so it can go fast. I did not see the place in person, lots of pictures, but I will by inspection and within the 15 day period that she said I have to back out. Thanks for your help.

Pinballdad · 12-10-2013, 07:28 AM

I would stay away from this deal. Or maybe wait till the lease is over, renter is out and the listing goes back up. Too much risk for my tastes. Not a lawyer here but I think that renter can stay longer if they want to play games. You may not be able to move in for a long time if they are game playing people. Even if the realtor or current owner says, "they are great people" that is just hear say and you will be the one holding the bag after they get their money and commission

taurus430 · 12-10-2013, 08:30 AM

Quote:

Originally Posted by Pinballdad

I would stay away from this deal. Or maybe wait till the lease is over, renter is out and the listing goes back up. Too much risk for my tastes. Not a lawyer here but I think that renter can stay longer if they want to play games. You may not be able to move in for a long time if they are game playing people. Even if the realtor or current owner says, "they are great people" that is just hear say and you will be the one holding the bag after they get their money and commission

Great advice. I was skeptical about this and for good reason. No offer going in at this time. Thanks for the reply.

carnivalday · 12-10-2013, 08:32 AM

I would think there would be a lot of nice condos available for sale in Tampa, to have to put up with this aggravation.

tinytrump · 12-10-2013, 02:46 PM

weird lease in Fl,,, I have signed leases in Fl said i need to be out with-in 30 days if place is sold. I always ask if the place I am renting is ON the market..

taurus430 · 12-12-2013, 03:42 PM

Quote:

Originally Posted by Pinballdad

I would stay away from this deal. Or maybe wait till the lease is over, renter is out and the listing goes back up. Too much risk for my tastes. Not a lawyer here but I think that renter can stay longer if they want to play games. You may not be able to move in for a long time if they are game playing people. Even if the realtor or current owner says, "they are great people" that is just hear say and you will be the one holding the bag after they get their money and commission

I contacted the listing agent and she told me this is a snowbird, never rented before, and is only here for the 4 months. They paid the first months rent plus an additional month for security, then will pay 3 more months, and after a walk through in April, if everything is good, the security returned. She also said the Community did a background check on him.

taurus430 · 12-14-2013, 03:40 AM

There can be so many issues in taking on an incoming tenant when making a purchase. Wouldn't you know it has to be the condo we like the best. I thought of things like liability issues, or something breaks etc, and I know nothing about being a landlord. I am still apprehensive about making an offer, unless the owner goes for a 4 month closing, LOL.

Jammie · 12-14-2013, 08:31 AM

Taurus, it seems like it's a bad omen and so often when we have internal struggles and it's tough to make a decision, it can mean that it's just not the right decision for us. I've made choices that were struggles for me and they often didn't turn out well.

It just seems so risky to buy a condo you've never seen from a realtor you've never met and immediately have a temporary tenant that you've never met. You must have a second favorite condo, chosen, correct? You may want to focus on that one or just keep checking for newly listed ones.

taurus430 · 12-14-2013, 08:43 AM

Quote:

Originally Posted by Jammie

Taurus, it seems like it's a bad omen and so often when we have internal struggles and it's tough to make a decision, it can mean that it's just not the right decision for us. I've made choices that were struggles for me and they often didn't turn out well.

It just seems so risky to buy a condo you've never seen from a realtor you've never met and immediately have a temporary tenant that you've never met. You must have a second favorite condo, chosen, correct? You may want to focus on that one or just keep checking for newly listed ones.

Thank you so much. That was well put and what I needed to hear.

taurus430 · 12-14-2013, 05:38 PM

We just realized that the listing ad reads "Move-In Ready"!!!! Move-in ready, yeah for a Tenant, can't be for the new owner if a Tenant is living there for the next 4 months.