Can the seller do this? Cancel leases?
Hi BP gang,
I find myself in a strange predicament. We are under contract for a house that had an advertised rent with an advertised rented out period. "Fully rented until 2016!" Yeah - I know - should have seen it coming. We asked for leases and assurances on the addendum to the contract stating that the actual rent was x. The lease is close to expiring and we received a copy of the next 12 month lease in which the rent was significantly lower. We had the lawyer send out a letter stating that the rents were obviously lower and we asked estoppel letters and for a credit for the rent difference for the duration of the 12 month lease (rather than renegotiate purchase price).
Now the seller is stating that he never delivered the signed future lease to the tenants and we could either assume the lease as is or kick out the tenants and negotiate our own lease since he says it's not actually fully executed or legally binding - even though we have a copy of the signed lease. ... We met the tenants at inspection and it's clear that they signed a lease for next year and expect to stay. Not quite sure what to do or make of it.
Was it wrong to ask for a credit of the rent difference? Is this as slimeball a move by the seller as it seems? My gut reaction is to say goodbye and walk away. The numbers fall quite a bit with the newer rent amounts.