Can the buyer of a short sale home, turn around and rent it back to the people that are short selling?
Monday, February 15th, 2010 at
12:54 am
We are trying to short sale our house and were approached by some people from up north that wanted to buy some property here in Florida and rent it out or a copule of years. They offered to buy our short sale house if we would sign a 2 year lease and rent from them. At the end of the 2 years they would like to either move into the house, or sell it, possibly back to us at the appraised amount. Can this be done? I have only heard of this as an issue of having family buying a short sale so their family members can stay in their own house by renting it and then maybe buy it back when it could be afforded.
Rent Back
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Tagged with: Buy House • Family Members • Rent • Short Sale
Filed under: rent property
Zodra zij het bezitten kunnen zij doen wat zij aan met het willen.
depends. Sometimes at your closing you will sign papers stating that you will live in the house, and not be allowed to rent it. depends on the bank whose loaning the money.
you have to look at the laws in your state. in california you can if the new buyer is purchasing the property as an investment property. if he is purchasing as owner occupied he has to live in the property for 6 months afther that he can rent it out. Hope this helps.
Als it' s een wapen-lengte overeenkomst, ja het wettelijk is.
Het werkt slechts als hun kosten genoeg laag zijn dat u zich kunt veroorloven om de huur en de nut te betalen. Met een korte verkoop en lagere rentevoeten, kan dit soms gebeuren.
Legally speaking, yes.
However, the lender will be looking closely at the proposed transaction, and are not required to agree to anything short of full payoff.
If they see this being done, they might just say “no”.
Once the deal is done and they get what they’ve demanded, they’ll never look at it again. Even if they do, as long as no one has lied to them about this aspect of the transaction, there’s not much they could do then. If anyone DOES lie to them, though, it could be grounds to rescind their part of the deal and come after you for any deficiency, even if forgiven.
Don’t offer the information, but if asked, don’t lie.
Hi
You has owner may rent to anyone you choose.
De geluiden aan me als dit zouden het ideale scenario zijn. U brengt 2 jaar ertoe om in uw huis, de kredietstandaarden van reparatie te blijven, en geld voor de beweging te besparen!
Ben zorgvuldig, krijg een procureur, en GOED GELUK!