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View Full Version : We just bought a house!!


pinkytoe
9-29-16, 1:41pm
Two months to the day after selling our house, we finally found a house to buy in our desired location and our contract has been accepted. Great locations, very good price, house has lots of possibilities. Just one problem - it has a tenant in it for the next eight months:( This of course is a great complication as now we have to find a rent house and become landlords. I don't know why this has been so hard...but driving 800 miles tomorrow to do inspection next week, etc. Here we go....
ToomuchStuff
9-29-16, 2:03pm
Could you buy out the tenant's lease (maybe for less then you would have to rent for)?
nswef
9-29-16, 2:03pm
Bravo! The tenant complication is a bummer, but if it is where you want and a good price...Seems well worth it. Good luck.
freshstart
9-29-16, 3:21pm
congratulations! I'm happy you found something you like. Maybe use the tenant money on something special for the house that you wouldn't ordinarily do.
happystuff
10-7-16, 6:40pm
Congratulations!!! Hope the tenant things isn't too much of a hassle.
pinkytoe
10-7-16, 11:18pm
The adventure continues. We found a cute little house to rent near the house we bought so at least we can be proper landlords. Now we have to pack up our stuff, including cats and try to get back before winter sets in.
Gardnr
10-8-16, 9:38am
It makes no sense to me that you must abide by a contract signed by a previous owner. The house did not sign the contract the owners did and they will no longer own it.

I'm sure you have vetted this but it still makes no sense to me. I'm sorry :(
Tybee
10-8-16, 10:39am
It makes no sense to me that you must abide by a contract signed by a previous owner. The house did not sign the contract the owners did and they will no longer own it.

I'm sure you have vetted this but it still makes no sense to me. I'm sorry :(

In many states, that is the law, Gardnr, that the tenants have rights under the original lease, and that supersedes the sales contract.
JaneV2.0
10-8-16, 11:02am
Wishing you a cooperative tenant and many happy years in your new house!
Gardnr
10-9-16, 11:39am
In many states, that is the law, Gardnr, that the tenants have rights under the original lease, and that supersedes the sales contract.

That is so so wrong and sad.
pinkytoe
10-9-16, 11:51am
Yes, rental lease supercedes sales contract where we are buying. It is possible we could have "bought out" the tenant but didn't want to have to do that financially.