When I do the move in, tenants sign a condition statement that includes "smoke detector batteries were replaced on 9/1/12 and all smoke and carbon monoxide detectors were tested and found to be in working order".

The 90 days notice of termination does not start at the date of sale.

If it's a term lease, then it can't be terminated just because the property is being sold.

If you can't option in the time period then just terminate the arrangement and move on.I definitely wouldn't want to spend 900 on it upfront.

Originally posted by "boricua":Yes they are legal and I would suggest a Lease and an Option agreement when you are getting a tenant/buyer, and a single Lease/Purchase contract when you are dealing with the seller. good luck,I would recommend the opposite.You want a default on the lease with your tenant buyer to terminate the option.

This is a business, and the only way to profit long term in this business is to be conservative on your estimates of price, repairs, holding time, closing costs, etc.

But, look at their fees for both setup and termination.

If you want to make sure your safe put a 5 day inspection period in the special stipulations section of the contract giving you to terminate if you inspect the property and find it unstatisfactory.Again these are my views from Georgia.

How ridiculous--we have to terminate and move out a perfectly good, long term tenant.

If they haven't paid the tenant portion by 5pm on the 4th, I evict the deadbeats and make sure that their Section 8 is terminated!