My Landlord is Considering Selling

This is my first post, I’m hoping it doesn’t get filtered due to lack of Karma

My fiancee and I currently rent a condo from a property management company/real estate group. The condo is owned by an individual person. We live in a large city in the midwest, pay about $3,000 a month in rent. This is about market, maybe a little more for the units in our building and in our neighborhood. We have lived here for 3 years.

On Tuesday, we received an email from a realtor with the property management company stating that the owner was considering selling the unit, asked if we were interested and also asked if there was a time that she could come over and look at the property. We replied explaining that the timing is unfortunate as we were not planning on purchasing a home until after our wedding and had hoped to keep renting this place as we like it here. However, given this situation, if the owner decides to sell we may consider purchasing the unit but we will need the price and will also weigh our options before we commit to it. We offer her a time on Friday afternoon to come view the unit and we spend a few days doing some deep cleaning to make it look nice.

Friday rolls around, the realtor emails us stating that she’s bringing someone from the office with her. They show up late, spend some time running around like kids in a candy store commenting on all of our stuff while we sit on the couch. When they come back, the man explains staging to us like we are 5 and starts telling us how excited he is to stage our furniture for photography because we have some “really great pieces”. We have spent upwards of $10,000 on furnishing this place since we have moved in. My fiancee interrupted him and told him in front of the realtor that we were told a couple days prior that the owner was “considering” selling the unit and asked the realtor if anything has changed. The realtor looked panicked and apologized stating that we have been really good renters and the owner is worried about missing an opportunity to sell while the market is so hot. We did let her know that we would be willing to sign another 2 year lease agreement she said she would “pass this on to the owner”. The staging guy was also noticeably uncomfortable as clearly there was some sort of communication lapse between those too. Bonus: Staging guy lives in our building and I’ve seen him around pretty regularly. Can’t wait for those awkward elevator rides

We have not heard from her yet, I imagine this is due to the long weekend. I reviewed our lease to see what the terms were regarding selling and it states that we have to accommodate showings within reasonable notice within the last 2 months of our lease. it also states we “agree to cooperate with all aspects of real estate marketing including signage, a lock box”. The lease does not specifically mention photography, staging or moving our furniture.

I understand that the owner has every right to sell and as of June 1st we will have 60 days left of our current lease. I’m trying to keep my emotions out of it but I’m honestly really frustrated with this realtor, her cavalier attitude, her lack of transparency that she was bringing over a staging guy.

We have not decided whether or not we will buy this unit. I’ve bought and sold a home in the past and while I’m no expert, I have some knowledge about what this process is going to look like. If we do decide to try to buy I’m wondering if we should work through her to try to make the process go smoother. What I mean by that is, negotiating without opening up the opportunity for other buyers to make offers unless we can’t come to an agreement. This is also beneficial to her because she doesn’t have to split the commission. I’ve wanted so badly to call my real estate agent the last few days and ask him for help but I’m trying to be really careful here and play the game. If she moves forward with listing all bets are off, I’ll call him immediately.

Even though there are a lot of things that hang in the balance I’m incredibly stressed about this. Both my fiancee and I work from home in separate areas, I work for a healthcare company and spend a lot of my day on the phone with patients, he’s on video calls most of the day and we also have a cat and a dog. Accommodating showings while keeping the unit in pristine condition, dealing with invasive buyers (opening up all our cabinets, looking in drawers), searching for a new place to live, potentially going through the house buying rat race and having to deal with moving sounds like an absolute nightmare.

Has anyone been through this before? I know I need to chill out, but is there any other advice that someone can offer? TIA

Edited to add specific questions:

If we decide to move forward with purchasing, is it actually wise for us to work with the sellers agent? If so, is there anything that we should be careful of so she doesn’t completely hose us?

submitted by /u/Over_Inflation1515
[link] [comments]

This is my first post, I’m hoping it doesn’t get filtered due to lack of Karma My fiancee and I currently rent a condo from a property management company/real estate group. The condo is owned by an individual person. We live in a large city in the midwest, pay about $3,000 a month in rent. This is about market, maybe a little more for the units in our building and in our neighborhood. We have lived here for 3 years. On Tuesday, we received an email from a realtor with the property management company stating that the owner was considering selling the unit, asked if we were interested and also asked if there was a time that she could come over and look at the property. We replied explaining that the timing is unfortunate as we were not planning on purchasing a home until after our wedding and had hoped to keep renting this place as we like it here. However, given this situation, if the owner decides to sell we may consider purchasing the unit but we will need the price and will also weigh our options before we commit to it. We offer her a time on Friday afternoon to come view the unit and we spend a few days doing some deep cleaning to make it look nice. Friday rolls around, the realtor emails us stating that she’s bringing someone from the office with her. They show up late, spend some time running around like kids in a candy store commenting on all of our stuff while we sit on the couch. When they come back, the man explains staging to us like we are 5 and starts telling us how excited he is to stage our furniture for photography because we have some “really great pieces”. We have spent upwards of $10,000 on furnishing this place since we have moved in. My fiancee interrupted him and told him in front of the realtor that we were told a couple days prior that the owner was “considering” selling the unit and asked the realtor if anything has changed. The realtor looked panicked and apologized stating that we have been really good renters and the owner is worried about missing an opportunity to sell while the market is so hot. We did let her know that we would be willing to sign another 2 year lease agreement she said she would “pass this on to the owner”. The staging guy was also noticeably uncomfortable as clearly there was some sort of communication lapse between those too. Bonus: Staging guy lives in our building and I’ve seen him around pretty regularly. Can’t wait for those awkward elevator rides We have not heard from her yet, I imagine this is due to the long weekend. I reviewed our lease to see what the terms were regarding selling and it states that we have to accommodate showings within reasonable notice within the last 2 months of our lease. it also states we “agree to cooperate with all aspects of real estate marketing including signage, a lock box”. The lease does not specifically mention photography, staging or moving our furniture. I understand that the owner has every right to sell and as of June 1st we will have 60 days left of our current lease. I’m trying to keep my emotions out of it but I’m honestly really frustrated with this realtor, her cavalier attitude, her lack of transparency that she was bringing over a staging guy. We have not decided whether or not we will buy this unit. I’ve bought and sold a home in the past and while I’m no expert, I have some knowledge about what this process is going to look like. If we do decide to try to buy I’m wondering if we should work through her to try to make the process go smoother. What I mean by that is, negotiating without opening up the opportunity for other buyers to make offers unless we can’t come to an agreement. This is also beneficial to her because she doesn’t have to split the commission. I’ve wanted so badly to call my real estate agent the last few days and ask him for help but I’m trying to be really careful here and play the game. If she moves forward with listing all bets are off, I’ll call him immediately. Even though there are a lot of things that hang in the balance I’m incredibly stressed about this. Both my fiancee and I work from home in separate areas, I work for a healthcare company and spend a lot of my day on the phone with patients, he’s on video calls most of the day and we also have a cat and a dog. Accommodating showings while keeping the unit in pristine condition, dealing with invasive buyers (opening up all our cabinets, looking in drawers), searching for a new place to live, potentially going through the house buying rat race and having to deal with moving sounds like an absolute nightmare. Has anyone been through this before? I know I need to chill out, but is there any other advice that someone can offer? TIA ​ Edited to add specific questions: If we decide to move forward with purchasing, is it actually wise for us to work with the sellers agent? If so, is there anything that we should be careful of so she doesn’t completely hose us? submitted by /u/Over_Inflation1515 [link] [comments]

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