 Selling rental (by Esther Tressler [IN]) Sep 15, 2014 7:04 AM
 Selling rental (by Vee [OH]) Sep 15, 2014 7:11 AM
Selling rental (by Nancy [IN]) Sep 15, 2014 11:54 AM
Selling rental (by BRAD 20,000 [IN]) Sep 15, 2014 10:25 PM
Selling rental (by Esther [IN]) Sep 16, 2014 4:46 AM
Selling rental (by Esther Tressler [IN]) Posted on: Sep 15, 2014 7:04 AM
Message:
State Specific Question About: INDIANA (IN)
I want to sell a property that I have rented in Indiana. The renters just signed a new lease in May. What obligation do I have to them as far as notifying them (or anything else I need to know?) --98.223.xx.xxx |
Selling rental (by Vee [OH]) Posted on: Sep 15, 2014 7:11 AM
Message:
Speaking from the buckeye state the new owner would need to honor the remaining lease period and provisions. Be sure to have clear definition of utility obligations, damage deposit held and appliance model serial numbers to show ownership of these items with deed transfer. --75.94.xxx.xxx |
Selling rental (by Nancy [IN]) Posted on: Sep 15, 2014 11:54 AM
Message:
Esther, Vee is correct. The Lease runs with the land. You have to sell subject to the current Lease, which will, of course, limit your buyers to investors.
Alternatively, you COULD request the tenant leave in exchange for a payment you decide, but we are going into winter, and I likely would simply wait until Spring, spruce the house up beautifully, and sell it on the open market, when you will get your highest offers.
If you can't wait due to some factor, you need to know that you sell the property subject to the existing Lease. Some tenants will sabotage your showing efforts so you don't sell.
--50.129.x.xxx |
Selling rental (by BRAD 20,000 [IN]) Posted on: Sep 15, 2014 10:25 PM
Message:
Esther,
By Indiana law, you can change or end the lease with a 30 day notice.
You could sell it with possession 30 days after closing.
Me? If you place to list and show it while they are occupants, I'd offer them an $$$ incentive to cooperate with showings. Be ready for them to vacate as soon as they catch wind it's being sold. --67.175.xx.xxx |
Selling rental (by Esther [IN]) Posted on: Sep 16, 2014 4:46 AM
Message:
Thanks all for your help! I did not know this website existed! You have all given me very valuable advice and informat --98.223.xx.xxx |
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