Rents on Listing are not what is on Leases

[Jessica Schmitt]

I just received an accepted offer on a 2-unit property. On the listing it said that leases were month to month and rented for $1040 and $1045. I had an addendum r but the rent schedule had TBD in the unit number box on line 13 but does state that I have 3 days to disapprove on line 22. This should have probably been a red flag but was not brought to my attention by my agent. When I received the leases I immediately noticed that the signed leases where not for the amount on the listing and instead were $875 and $975. Attached to the leases was letter from the current owner to the tenants stating that rents were going to increase to the amounts that were on the listing on the month that closing is scheduled for. The tenants did not sign the letters. As we all know, we buy rental properties based on the evaluation of rents, do you think this is enough to cause the offer to be null and void because of disapproval?