My Buyers wanted a vacation condo so that they can come a few times a year and enjoy Florida warm climate. Timing is perfect, the prices, while on the rise, are still very affordable.
Their son is in training in Daytona, and they would let him stay in the condo until he completes his training and gets a job.
The listing has the following verbiage in Public Remarks:
EXCELLENT TENANTS IN PLACE WHO CAN STAY ON OR YOU CAN MAKE THIS YOUR OWN LITTLE PIECE OF PARADISE!
The offer is submitted. The Listing agent checks with me whether the Buyers would keep the Tenants, or want it for themselves.
They want it for themselves.
No problem. The listing agent tells me that they have enough time to notify the Tenants. A few days later I get a message that the Sellers wrote a letter to the Tenants, and tenants said no. They have a lease and would leave when the lease expires.
The buyer either takes it with this condition, or no deal.
Buyer does not like ultimatums.
Someone made a mistake there, and it was not my client.
Seems like the Lease did not have “Terminate on Sale or Contract Clause”. And seems like there was no prior arrangement, which the Tenants agreed to.
Luckily we have overcome this hurdle.
It was not the only, and not the last hurdle in this weirdly difficult transaction.
Things happen. I believe it is our job to sort through what could be legal under the circumstances, and what could be reasonable. And then communicate with the other party and negotiate. There is usually a solution, but it needs open hearts and ability to listen and communicate.
Image by Paul Aloe via Flickr.com