Registered: 1217605854 Posts: 2
Reply with quote #1
We are trying to do a short sale on our rental. After 6 months we did not renew a lease and went to month to month. This is what is happening. What do we do? If we can't sale it, it will go into foreclosure for real.
A letter received yesterday from an agent trying to show property.
It was quite an unpleasant experience for sure! As soon as the tenant opened the door he indicated that he has a dog and that the dog might or might nor bite, that we would enter at our own risk. The dog did not seem to be mean however the tenant made no attempt to hold the dog. He then proceeded to tell us that he was very upset about the whole situation an that he was going to make it very difficult for any buyer to buy the property. He also stated that he was going to be taking legal action with everyone involved and that his attorney had said he could live in the home for a year or longer. He also said that he was not moving even if the sheriff attempt to take him out of the house. My client was certainly very uncomfortable with the situation and decided not to even look at the house. I tried!
Good luck, it seems that it will be very difficult for anyone to look at the home.
Thanks for any suggestions
Registered: 1215104350 Posts: 14
Reply with quote #2
You will need to have the tenant gone to get that house sold thru normal real estate means. You should give them the appropriate notice that you are terminating the month-to-month lease and what day they need to be out by. As long as they are living there you will not be able to sell it. The tenant probably has in mind that if you go in to preforeclosure that they can take advantage and live there rent free and there is nothing you can do about it, since you might not have the money to use legal help, which is what you will need. Your other option is to work something out that might appeal to that tenant so they will be cooperative. Not sure what might be more appealing than living for free for who knows how long. Are they paying rent? If you really want to do a short sale, and avoid foreclosure, and don't see a means to get rid of that tenant, there are lots of investors out there right now you can contact who will buy your home and negotiate the short sale with your lender. They won't care about your tenant and will take care of evicting him once they own the property. They will want to buy the house for about 60% of the value, but given the situation, they are taking on all the hassle. You can find these people from your local paper, online,landlord discussion boards, maybe even from your real estate agent. Keep in mind if you go that route you have a listing agreement with your agent and those terms are binding unless canceled by both parties, you & the broker. You should get some advice form an attorney to make your best decission. What state are you in? __________________ Kathy
Registered: 1169270040 Posts: 3,794
Reply with quote #3
I agree. Terminate this tenant by giving appropriate written notice that you will not renew the month to month agreement for the next month, and provide a date/time for them to be out and return the keys. Keep a copy of this notice. When they fail to move out, start eviction proceedings immediately. Your foreclosure will take months to go through. You can have this tenant out long before that. Evict him, then try for a quick short sale. If he still refuses to leave after the eviction, ask the court to schedule a set out with the sheriff. I guarantee he WILLL leave when the sheriff starts carrying his belongings to the curb, or he will be arrested and carted off to jail. As soon as his things are out, change all locks and secure the property (even padlock the gates.)
This tenant is not going to be cooperative and will continue to threaten the agent and any prospective buyers. You are destined for foerclosure if you leave him in the unit. It is time to evict.
Registered: 1217605854 Posts: 2
Reply with quote #4
Thanks both of you for your replies.
I was told that they were going to auction the house 8/13/08. But postponed because of an offer on the house (that unfortunately fell through).
I contacted an attorney and he is sending him a letter of cease & decease? Anyway if he doesn't let me or someone acting as me in for 3 days he will be evicted in 3 days. Love it.
Also being told if the house does go into foreclosure due to him, he can be liable for the costs and more if he continues.
He did show the house again, pointing out what he thinks is wrong with it, but they put an offer in anyway. I think too low, but maybe we will get some more.
Did I tell you about the letter they sent to a county agency? They had to replace batteries in the smoke detectors, and we refused to by them a new toilet seat! The batteries I knew nothing about, and the toilet seat was the end (no pun intended) of my rope! They are a pain in the arse.
I'll keep you up to date, and anymore response please leave!
Registered: 1335434882 Posts: 1
Reply with quote #5
You couldn't sell the house until the tenants are in the house. After the completion of the time duration you can vacate them and sell the house. homes for sale baltimore county
Registered: 1169270040 Posts: 3,794
Reply with quote #6
Ale, you didn;t read the post very carefully. While I am sure this house is long sold, it may help someone else. The owners were trying to Short Sale, usually because they owe more on the house than it is worth and cannot continue making the payments. Moving the tenants out would make them in more of a financial burden than before. All state laws allow the owner to sell a property with tenants in place. Leases merely transfer to new owners. In that light, state laws say the tenant is to allow reasonable entry into the property to show it to prosepctive buyers. This tenant was not following that law. If reassuring the tenant that his lease would simply continue to the new owner did not work, the tenant could have been forced to comply by an attorney or a court order.
Registered: 1360316968 Posts: 2
Reply with quote #7
Day-by-day, The value of property will be increasing. In many countries, Demand for commercial property also increased because establishment various kinds of luxury shopping malls. Last week, My friend also this kind of problem with tenants I didn't say whether the mistake was happened by tenants or not.
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Registered: 1360322122 Posts: 2
Reply with quote #8
Commercial property includes office buildings, industrial property, medical centers, hotels, malls, retail stores, farm land, multifamily housing buildings, warehouses, and garages. The value of land is increasing day-by-day with more gains. Could you please produce some more attachments about the topic for view detail information.
Registered: 1371269914 Posts: 1
Reply with quote #9
You should settle it with both of your attorneys. I think your tenant has some good reason why he is resisting to let go of your property or maybe he's just trying to stall you so that he can live with your property for a long time. Just ask your attorney on what to do for the necessary actions. If you are in the right side that tenant can't do anything but to live the premises of your property.
________________ Chiswick estate agents
Registered: 1396667455 Posts: 1
Reply with quote #10
Selling a house is not an easier thing to do. May be the problem will be occurred with the tenants also. First of all, You have to directly contact the tenants, even though they didn't vacate the house then you can proceed through legal services. Sell My Property Quickly