Selling a Property - Leased/With Tenants and Prop. Mgmt

General Real Estate Investing
1

Hello,
I have an investment property that is a single family house. I’m the owner of the property and my name is on the deed. The property is leased to another family, with the lease running through the end of 2006. Additionally, I have a property management company helping take care of the property and the tenants, etc.

Now, I want/need to sell the property. But, before I do that, I want to make sure there are no adverse legal implications of selling the property even though it’s leased. Basically, I don’t want to open myself up to being sued for anything, such as breech of contract with the tenants and the lease agreement or breech of contract with the property management company and our agreement or …

Given my situation briefly explained above, would anyone know if there are any problems/issues with selling my investment property that has tenants?

Thanks!

2

You need to talk to your tenants first. See if they are willing to 1) show the house, and/or 2) leave, or 3) buy it. Once you have the answers to these questions, you’ll have a much better idea as to how to proceed. Good luck and keep us up to date as I’m sure all the resident geniuses will have various ideas as to how to sell it best.