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I've had it with my renters! We could not sell our house and decided to rent to a family who wanted to rent with option to buy. That wasn't an option since they had no down payment as their house didn't sell and is now in forclosure.
Now some stupid mistakes I've made.............
their lease expired in March and they wanted to extend it to 6 months more and try to buy in the August time frame. Rather then spend the money on having the attorney change dates, we did that ourselves. I never got their copy of the lease back showing the extension with their signatures. So basiclly they are living there without a lease.
So now after them being late AGAIN and not returning calls, I'm thinking I need to list that house and get it sold.
It won't be easy since they love the house. Of course they would, it is a great house in a great town, much different then they from where they came.
Any words of wisdom? I can't leave the house vacant and try to sell.
In Oregon if you accept their rent then you are essentially stating that you are allowing the lease to continue. You need to read your landlord tenant laws and see what they say. You might be in that 6 month lease still. Out here without a signed lease, it automatically defaults to the same terms but becomes a month to month contract. That is our Oregon law. You need to see what your state laws say.
Hire an attorney to look over your lease and agreements and get some advice.
Any words of wisdom? I can't leave the house vacant and try to sell.
Hire a professional property manager who also does sales and remove yourself from the process. In other words, fire yourself for incompetence and let someone who knows what they're doing try to achieve the outcome you seek.
Hire a professional property manager who also does sales and remove yourself from the process. In other words, fire yourself for incompetence and let someone who knows what they're doing try to achieve the outcome you seek.
Steve
Excellent advice, Steve. It's also too personal for an owner and an objective professional is what's needed. Also OP SF advice of seeking legal counsel is wise; they're late on payment, again, not returning phone calls . . . Possibly that is a way you can get them out then do as Steve suggests. Good luck.
I was wondering ...if i was to ever sell my home in 4 years..all that money that I spent towards the home...do I get it all back??? even though i didn't pay it all off?? cuz u don't really own the home until it's all paid off, right? i'm confused.
I was wondering ...if i was to ever sell my home in 4 years..all that money that I spent towards the home...do I get it all back??? even though i didn't pay it all off?? cuz u don't really own the home until it's all paid off, right? i'm confused.
You get any money back that is left over after you pay off a mortgage. Yes, you really own the home, but their is a lien on the property from the lender.
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selling home..do u get all money back?
