I’ve been renting a home for over 3 years and woke Saturday to a realty “For Sale” sign in my front yard….which was a big surprise to me! Doesn’t my landlord have to give me some kind of notice? That is, other than the big obvious sign in my yard!!
I’ve been renting a home for over 3 years and woke Saturday to a realty “For Sale” sign in my front yard….which was a big surprise to me! Doesn’t my landlord have to give me some kind of notice? That is, other than the big obvious sign in my yard!!
Well, depends…
If your lease is still locked in, then in most areas, the new owners will have to take over and honor the lease, and this will have to be made known to any potential buyers by the current owner. But, keep in mind this only applies in some areas of the country – depends on your local housing laws, so you will need to check with them.
However, if you are past your initial lease and are only renting now on a month to month basis, then she is only required to give you a 30-day notice. Now, is putting the sign in the yard your notice? No, your notice needs to be in writing.
You will most likely have 30 days to vacate from either the date of closing or from the date she accepts a contract on it. However, if she gives you notice before then, then you may have to be out before it is sold or closed on.
Look into buying it yourself. I’m really surprised that she didn’t come to you first. Most landlords who sell a rental house offer it to the tenants first. Saves them a realtor fee and/or advertising fee and quite a bit of a headache.
This information should be in your lease. Most leases must be honored by the new buyer. While the landlord may not be required to give you notice of selling the property, they may be required to give you notice before showing the property to potential buyers.
NO, the owner does not have to give you notice he is trying to sell the property he owns.
However, if someone does buy the property during the term of your current lease they will have to honor the terms of your lease.
Have you signed a new lease at the termination of the previous lease period? That is are you in a current lease term or has the previous lease expired and you are holdover and now actually in a month to month lease? If you did not sign a new lease at the expiration of the old one, then you are on a month to month lease and owner or new owners would only have to give you 30 days notice to terminate the lease.
No, the landlord does not have to give you any notice. The reason for that is because, the new buyer not only purchases the property but your lease as well. The new owner has to abide buy your current lease, so therefore, no notice is needed because your living arrangements won’t or at least shouldn’t be effected. Your landlord does however, have to give you the new landlord’s information, so you can have it when you make your payments and/or leave so that you can get your security deposit back.
If he hasn’t said anything to you or written you a letter about it; ask him. Seems like if he would be decent about it he will give you plenty of time to decide what you want to do.
Would you be interested in buying it? Do you like the area and the house? Is the house in good condition? Does the house need a lot of repairs? I understand the house should have a fairly new roof on it when it is sold. There are a lot of things to consider. Taxes, etc. too. You would need someone looking at it from the buyers point of view. Someone you know or a professional person. Someone you trust. Or just find another place. Good luck.