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Updated over 6 years ago,
Agent won't tell me if lease exists.
Found a house we like, contacted a real estate agent to act as buyer's agent for me. Agreed to a price, signed a contract.Part of the home has renters. Supposedly it's a month-to-month rental agreement, and the renters will be moved out by closing, along with the current owner. I think a written lease would convey, and I'd be bound by any terms in it, so I asked my agent to get, in writing, assurance that no written lease exists. My agent says she and her broker don't feel this is necessary, since I can do a final walk through the day before closing and see if the renter has moved all of his stuff out or not. I asked her to answer these questions before moving forward:
1) Is it true that any written rental lease will convey with the property?
2) Is it true that as the new owner, I'm bound by any and all terms and clauses in this lease?
3) Do we even know if there is a written lease?
She has so far refused to answer these questions. She finally typed up a single sentence addendum that says, "Owner and seller agree that renter will move out before closing," , and continues to insist that her broker says, "all of our bases are covered." I told her this single sentence thing doesn't address the possible existence of a lease, and to cancel the inspection, I'm not moving forward at all until this is nailed down in writing.
Am I wrong?