Can a realtor list a property on the MLS before their client has closed on the house? Obviously, assuming the person is under contract and listing an availability date after closing
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Laws on listing a rental property before owning property
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Last: 4 yr ago by davido
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Not a lawyer, know a few.
My guess, probably not illegal but ill-advised for his own sake (what happens if he leases it, and the deal does not close, problem)
My guess, probably not illegal but ill-advised for his own sake (what happens if he leases it, and the deal does not close, problem)
MTVs Celebrity Deathmatch
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aggiepaintrain said:
Not a lawyer, know a few.
My guess, probably not illegal but ill-advised for his own sake (what happens if he leases it, and the deal does not close, problem)
For sure. Thanks!
Don't sell it until you own it. Real estate is not the stock market.
He's a lawyer ^^^ I'm in the business. You can't do that. Needs to be your property before you put it up for lease.
I'll take a contrary position…
Seems like it would be OK if it was disclosed in the listing. I'd put it in special provisions on the lease also, "Lease execution pending expected 9/20/21 property purchase closing." That way it was provided in writing to the lessor also.
Comfort level of that move would depend on confidence of closing. Good chance at bad review, feedback, issues if you don't communicate fully and execute in the end.
Seems like it would be OK if it was disclosed in the listing. I'd put it in special provisions on the lease also, "Lease execution pending expected 9/20/21 property purchase closing." That way it was provided in writing to the lessor also.
Comfort level of that move would depend on confidence of closing. Good chance at bad review, feedback, issues if you don't communicate fully and execute in the end.
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