Posted by Natalie-VA on July 26, 2005 at 10:06:51:
Joe,
I am not an attorney. In the future your agent should request a copy of the lease and also have the tenant sign an estoppel document saying that there are no other agreements in place.
As far as how to fix this, you are stuck unless the tenant is willing to move. I would figure out exactly what your damages will be in terms of carrying costs or buying the tenant out, etc. and approach the listing agent’s broker for resolution. If you play nice and they have any sense, they will try and work out a solution in order to avoid being sued. Make sure you hold on to that copy of the listing that has the wrong date on it.
What if a person buys a residential rental property with the intention of tearing it down to build on it and after closing realizes that the actual lease expiration date is 6 months later than the date that the seller’s realtor stated on the listing? Can the seller and/or seller’s agent face liability? Also, can the buyer’s realtor face liability for not having verified the actual lease expiration date? Can anything be worked out with the tenant to break the lease, possibly paying the tenant an amount to leave the property prior to the lease expiration date?