List rental before closing?

4 Replies

Hey all,

I am closing on a duplex next week but the top unit is vacant and I would like to list it on zillow, craigslist, local FB etc. Is there any legal trouble I can get into? I won't show the place until after I close, but I will use inside/outside pictures of it. 

 Thanks,

-Tim

I'd do it. That said, you could reach out to the seller and ask for permission. If they OK things, then there's no reason not to. 

Tim,

I wouldn't do it, you don't own the property yet. I have seen some really weird things happen before a closing. 

I had someone die before a closing ,held up everything. One that did not want to close, cold feet , the buyer had to sue. And then one that became incapacitated before closing and did not have a power of attorney etc.... Just wait

Kim Meredith Hampton, Real Estate Agent in FL (#BK0601196)
407-253-9324

@Tim Hertz - I am not a lawyer, but I am pretty sure there is absolutely nothing illegal about posting the unit when under contract. However, you need to make sure you do not sign a lease with the tenants until it is closed. I did exactly this. 

When I first got under contract I listed the property. Then I would gradually bring the price down each week until I found a qualified tenant. I then coordinated with the tenants to sign the lease a few hours after I closed on the property. 

I closed on the property at 10am and had the lease signed with tenants by noon. 

Hope this helps! 

I was wondering the same. We have made it past the inspection and appraisal stage and only thing left to do is wait for the loan to be underwritten and we close next week.  I tried to be respectful and ask permission, but the seller said no. I noted that I would include in the listing that it is not available for show until next weekend, so the potential applicant knows and they will not be entering the house, so really can the seller do anything to stop me if I post?

I do not plan to take any fees or do any formal interviewing I just want to get the word out and start pre-screening (income, pets, move in date etc) and invite interested people to an open house the day after closing. 

Anybody run into any issues with this? (Yes, closing could fall though then I would just notify people if this happens)

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