This can be a tricky situation and should be handled carefully and with legal representation. It isn't as bad when you are buying a house for revenue property, in fact many people prefer to have renters in place already. When buying a property with tenants and a buyer is purchasing the home as their primary residence, this can get messy. I recently had one where my clients are taking possession almost a month before the tenancy agreement is up. They want to ‘pay her out' by giving the tenant a bonus if she vacates early. I suggested they do everything by the book (a book I don't actually have or know if it exists) so by that I mean running it by a lawyer.

I am sure it is different in each state/province, but if you have any other suggestions for me as I have a feeling, with our low vacancy rates, this will continue to happen and I want to know how to handle the tenants properly without overpromising my buyers.

Thanks!

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.
www.karicalder.com

 

 

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Kari Calder

Saskatoon, SK

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Century 21 Fusion

Address: 703 Circle Drive East, Saskatoon, SK, S7K 0V1

Office Phone: (306) 653-8222

Cell Phone: (306) 717-1277

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