All Forum Posts by: Kay March

Follow the advice above about proceeding according to your lease and the law. Be polite but informative when dealing with them. Many tenants simply don't know what they're doing or what they're risking, and once they do, they might cooperate.

I'm selling one of my rental houses by owner. A potential buyer has offered full listing price but his offer is contingent on his getting !00% VA financing and he also wants me to pay $6000 for his closing costs/prepaids. How likely is it that he can get 100% VA financing, and why would he want me to pay $6000 for his closing costs/prepaids instead of just offering $6000 less for the house? If I pay the $6000, will that amount be deductible for capital gains tax purposes?

Thank you, Jim Adrian, for the sample paragraphs. This way of doing things looks better than simply granting a month-to-month tenancy from the very beginning, something I've also considered. Under "Tenant Requested," do the number of months (0-3 months, etc.) refer to the time that the tenant has lived in the rental or to the time remaining on the lease when the tenant gives notice?

Thank you, Nathan. How would you restrict the situations that your termination clause would apply to?

As Bjorn said, go with your inspector every step of the way, so that he won't find a problem that you would not have seen if you had been there with him. Sometimes problems are found, and, lo and behold, the inspector just happens to know the right person to fix it. Twice I did not go around with an inspector, and I was then told about false "problems." Once an inspector "found" rat droppings in an attic of one of my properties, but rather than hire his buddy to exterminate the "rats," I hired an inspector to confirm that there were no rat droppings. Once an inspector "discovered" a running toilet in one of my properties and suggested a plumber who could fix it. I then took a look in the tank, and saw that "someone" had drastically shortened the chain to the flapper. And don't rely entirely on an inspector. You have to rely as much as possible on yourself. Everyone has purchased properties and later wondered why an inspector failed to notice something, but their contracts are full of escape clauses, so it's very hard to hold them responsible. Typically they are responsible only for noticing things that are "visible."

A couple who was selling their house applied for my rental. They were sure that their house would close on a certain date post lease-signing, and upon my urging (twice) they confirmed with their real estate agent that their buyer's financing was secure. They moved into my rental, and their buyer's financing fell through. They are not complaining at this point about having to make a mortgage payment and pay rent to me, so perhaps I am more uncomfortable than they are, but how do other landlords deal with this risk, or does it just come with the territory?

Out of five smoke detectors in one of my rentals, one won't twist off to allow replacement of the battery. I had no trouble with the other four smoke detectors, but this one seems to be fused in place. I can't twist off the cover or even the entire smoke detector at its base. It hasn't been painted, and there's no apparent damage. Please tell me I don't have to hire an electrician to do what should be an ultra-simple little chore!

I did finally get a copy of the contract cancellation between my buyer and her buyer, so that, at least, was proof of the cancellation.

Sam Shueh, the California market looks like a seller's dream, based on your observations. I am in Florida, and my contract includes a rider which returns the deposit to the buyer if the sale of her home falls through (unless the buyer wants to waive the contingency).

You can sue for breach of contract, can't you, Kon Zel? Even if you don't sue for performance you can sue for damages, can't you?