Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago,

User Stats

2
Posts
0
Votes
Burt Mcfadden
0
Votes |
2
Posts

Agent won't tell me if lease exists.

Burt Mcfadden
Posted

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?

Loading replies...