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Old 03-02-2021, 09:52 PM
 
6 posts, read 24,294 times
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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?
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Landlord to tenant sale - avoid property manager-capturerental.png  
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Old 03-03-2021, 01:59 AM
 
10,585 posts, read 5,940,382 times
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Quote:
Originally Posted by longhorn1030 View Post
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.
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Old 03-03-2021, 04:58 AM
 
Location: NC
8,057 posts, read 10,887,821 times
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As far as I know, cross outs may not be completely defendable unless all parties to the contract have initialed them.
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Old 03-03-2021, 07:42 AM
 
Location: Raleigh
11,612 posts, read 8,966,159 times
Reputation: 16465
Since you should have an RE attorney draw up the paperwork for te sale anyway, ask them.
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