selling a house we have already rented out

[beaufoy]

We are emigrating on July 3.For three months we have been trying to sell our house. Last week we gave up and changed the advert to "for sale or rent."

On monday 25th we found someone who wanted to rent our house. They paid a deposit and we signed contracts that they would become tenants on Sunday 1 july

On Tuesday 26th one day later someone contacted who wants to buy our house.......can we get out of the rental contract and sell the house????

 

[Crossy]

You could talk to your new tenant and return their deposit plus a "sweetener".

 

You could talk to your prospective purchaser, they may be happy to buy with a sitting tenant.

 

 

[Swiss1960]

Did you not insert a clause in the rental contract about what happens, if you can sell the house? If not, you are legally obliged to honour the signed rental contract.

Sent from my CPH1821 using Thailand Forum - Thaivisa mobile app

[inThailand]

Some buyers will view having a renter and rental income as a bonus. Talk to the buyer first and than act accordingly. 

Edited June 27, 2018 by inThailand

[roath]

If they haven't already moved in, then you are in a better position than if they are already sitting tenants. You can break the contract, but you will be liable for expenses incurred, which may include agent's fees and removal fees etc. if they have already committed themselves. As others have said, it would be best if you were just honest with your intended tenants and see if you can work something out. Most people would be unhappy at having reluctant landlords, which could cause friction over the course of the year, and of course, the possibility that they will be asked to move at the end of the year regardless (presuming it is a one year contract). Again, it would be worth speaking to the new owner as to what he/she prefers also before speaking to the tenants. 

[Katia]

But do it soon.  Luckily, this just happened, so I'm thinking it should be pretty easy on the prospective tenants, but the more time that passes, the less time they have to find another place (assuming they've already sold/given notice on wherever they're living now and are on some sort of timeline to be out, and have also passed up other opportunities).  I would say, even let them know now-- "Hey, I have a prospective buyer, and I'm going to talk to them and see if they want to take you on as renters, but I just wanted to let you know."  Then they can continue their search just in case, or know that the place is being sold in case they might not want to be passed on to a new buyer (after all, just because they're okay with renting from you doesn't mean they might like the new owner{s} or vice versa).

[JAZZDOG]

It's a no brainer, if you can unload your house do it. Make sure you have an iron clad contract and 20% deposit because you don't want to end up no renter or buyer. Now come clean with the renter and disclose there is a meth lab across the street, a drunk farang next door who occasionally has sex with a goat in the back yard. Then drop the bomb about the Arabs on the other side that receive large quantities of fertilizer delivered each week. Good Luck!

[NightSky]

Congratulations on receiving an offer for your property after just 3 months. My wife and I are considering selling our home (it was a new house 2 and half years ago in a nice moo bahn in Bangkok). I'm curious if you needed to sell at lower than cost or if you are asking for break even/more than you paid?

 

Does anyone else have any tips for selling an almost new home here? (should I use an agent/which agents to use/agents commission/taxes/expectations/etc..?)

[MyFriend You]

13 hours ago, Swiss1960 said:

Did you not insert a clause in the rental contract about what happens, if you can sell the house? If not, you are legally obliged to honour the signed rental contract.

Sent from my CPH1821 using Thailand Forum - Thaivisa mobile app
 

That may not even be legal contractually - better to consult a Real Estate lawyer and get off the Thai Visa Forum Law Firm.  I do like the quote to talk to the buyer, he/she may like te fact they have an income producing entity.

[JAZZDOG]

2 minutes ago, TunnelRat69 said:

That may not even be legal contractually - better to consult a Real Estate lawyer and get off the Thai Visa Forum Law Firm.  I do like the quote to talk to the buyer, he/she may like te fact they have an income producing entity.

Bad idea, once you have a deal stop talking until the check is cashed. Worked as a broker many years and used to always take $500 in twenties to closing. If any fires flared up over prorations or nicked up doors I would start handing out money till the offended party cooled off and we could move on. Loose lips sink ships. No need to raise flags, the renter is collateral damage easily dealt with.