Profile picture for reaperz44

buying a house and seller is renting it out after we sign contract.

in just two days we will be signing a contract to buy a home  and the seller is renting it out for two weeks after we sign the contract is that legal
  • March 19 2014 - US
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Answers (3)

Profile picture for Vibha Mehra
This is not commonly done when an owner occupied home is being sold to an owner occupied buyer.  The contracts in my state NJ just state that the house be passed on in broom swept condition.  So from my understanding if the seller rents it temporarily during the period of contract, how can anybody stop him unless stipulated in the contract.
  • March 19 2014
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It is legal as long as the seller has the lease in place before you close escrow on the home.  Keep in mind that if the rental takes place after you close escrow it will be your tenant not his and you will collect the rent and be responsible for being a landlord, something you may not wish to do.

If the lease occurs during the escrow period and concludes prior to you closing escrow there is very little you can do about it.

If you do not agree with the sellers actions, do not buy the house.  Or be specific in your purchase contract that you will not accept his terms.
  • March 19 2014
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Check your contract. As long as there is an addendum for a Seller's Temporary Lease, then yes it is legal.
  • March 19 2014
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