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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. 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.
You can make an offer with any condition you want. Since the present owner would probably have to pay off the renter to deliver he may not accept your offer.
The selling realtor is obliged to deliver any formal offer to the seller (unless he has prior instructions to the contrary). Independent of whether he approves of the offer or not.
The realtor is right that once a lease is signed it has to be honored. As said, the only way this would work is if the owner were willing to pay off the tenant. As also said you can make any offer you want but whether or not the seller wants to go along with your conditions is entirely up to them. You'll just have to make your offer and see what happens.
Often the 4 month tenants who pay thousands a month (have you looked into some of the snowbird rental prices in Fl?) will not agree to breaking the lease contract. Often they are returning to that unit or to the community. They have friends there who stay at the same time; they know the golf course and tennis court; it's like home to them.
Even if it's new to them...they already made their plans, made their social engagements, probably already paid to upgrade the social membership to include their golf and/or tennis and can't get that back, already made dates with friends, AND already made plans with family to come for visits while they are there .... so that the family has incurred travel expenses, etc.
This wintering in Florida is no small thing.
But you can try anything.
Why are you looking at places that rent to snowbirds? Probably for the same reason they rent to snowbirds...there are winter amenities to be enjoyed. And at a good high price that's difficult to turn down.
You can make an offer contingent on your review and acceptance of the lease. Keep in mind that the money the renter is paying, security deposits and the like, should be received by the new owner. You can also ask for information about the rental history of the tenant. Perhaps they have been renting that unit for years and taking good care of it.
Snowbird renters in Florida condos are not your ordinary brand of renter or even vacation-renter. They are typically very conscientious, older people who pay a premium to stay in the area for a few months while it snows up north. Contact a good Realtor/Service firm in the area and arrange for them to inspect the property prior to and following occupancy. They will also arrange cleaning to whatever standard you choose.
A huge number of Florida condo owners rent them to 'snowbirds' every year with few problems. Unless you are planning on moving into the Condo yourself, I wouldn't worry too much about this seasonal rental ... plus, you will likely earn a good premium on your investment. -- You might even find that you want to rent-out the place yourself in the future, but, if not, you can always say 'no.'
I'm sorry,but as the buyer,your rights trump any renters rights,and you don't have to honor a darn thing.
A lease is yearly,or month to month.
If you purchased it,and they have a lease,you can make them move within a month or two. You may have to pay expenses for them though.
You don't have to honor a previus owner's contract or lease.
I'm sorry,but as the buyer,your rights trump any renters rights,and you don't have to honor a darn thing.
A lease is yearly,or month to month.
If you purchased it,and they have a lease,you can make them move within a month or two. You may have to pay expenses for them though.
You don't have to honor a previus owner's contract or lease.
Ummmm.......absolutely full of inaccuracies. Yes, you can try to make them move, but by the time you successfully do so this four month lease will be up. A lease is still in effect in Florida, even after a sale.
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Ummmm.......absolutely full of inaccuracies. Yes, you can try to make them move, but by the time you successfully do so this four month lease will be up. A lease is still in effect in Florida, even after a sale.
