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.
General Landlording & Rental Properties
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 4 years ago,

User Stats

14
Posts
10
Votes
Ian MacDougall
Pro Member
  • Real Estate Agent
  • Washington, DC + Central VA
10
Votes |
14
Posts

Nullifying lease clause for potential tenant

Ian MacDougall
Pro Member
  • Real Estate Agent
  • Washington, DC + Central VA
Posted

What's up BP,

I'm about to rent out my first property (house hack) in central VA to tenants that aren't friends - as in, I went through the full screening process and application. I have a couple that look to be a great fit, and I approved them today after they passed all background/income/credit checks. They're looking to rent for at least a year. However, upon asking their move-in date, the wife had a question about nullifying the lease. They're selling their current residence before moving into my rental, and plan to close in the middle of October. Based on a similar experience selling a house a few years ago, she's worried if the buyer pulls out before closing then they would be stuck with their mortgage as well as a lease with me.

So, is it possible to structure my lease with a nullification clause that if their sale falls through before close, then they can break the lease? If so, how should I go about including that clause, or is it worth waiting until after their closing date (couple weeks from now) for them to sign the lease?

I know this is likely a question for a RE attorney (don't worry I won't sue for any advice you give :) ) especially if I need them to add the clause, but I figured I'd ask for anyone's thoughts if they had experience with this.

Thanks in advance!

-Ian

  • Ian MacDougall
  • Loading replies...