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if i am buying a house buy owner and lived there for a year. then decided to rent it out.?

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  • if i am buying a house buy owner and lived there for a year. then decided to rent it out.?


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Answer #1 | 05/01 2014 13:18
Yes.
Answer #2 | 05/01 2014 13:22
Give who this information, the bank, some buyer? If its the bank you aren't obligated to but they aren't obligated to give you a loan either, same for the seller but they'll likely cancel the deal if you don't give it to them.
Answer #3 | 05/01 2014 13:22
The lease goes with the house so the tenants will be renting from the new owner. The owner needs to know his obligations and rights. So when the home is sold the paperwork has to go with the home. When negotiating the sale the buyer will need to look at the lease to see if they want to buy the home. The buyer might want to live in the home so if it has a 2 year lease decide they don't want it. It they want it as a rental having a 2 year lease at a good price is an advantage but below market rent means they can't raise the rent for two years. If the tenant is behind in rent and a problem needing evicted the new owner would need a major discount to buy your problem. Any way you look at it the new owner needs all the records to decide to make an offer.
Answer #4 | 05/01 2014 14:00
i am betting your agreement with the seller does that permit that. check it. if unsure, call him. if he says yes, then of course, study landlord tenant laws to make sure you do not violate any of them

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