• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

New Landlord offered to buyout my lease in order to sell

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

BlondeMom5

New member
Rhode Island.
Ok so after my old landlord suddenly died of heart attack back in July , his two properties, one of which my family and I rent, ended up going to a distant cousin. So they just offered my husband and I 2,000$ to end our lease (May 2020) and move out. They are selling and have a buyer interested. Thing is we ended up having to pay for ripping down old beaver board walls covered in lead paint , pumping our septic , replacing the refrigerator, my father is a plumber and he had to redo the whole heating system in my house and was only charging for the parts and landlord never paid him. When minimum housing was on his back about painting both houses and cleaning up his yard , we bought the paint , my husband painted mostly all of it and we paid for a 300$ dumpster to get rid of junk in his yard. Upon other numerous small plumbing repairs my husband did. Right before his passing We had just spent 200$ on a part for fixing the shower as we can only takes baths as of right now (but never finished as we weren’t sure what was gonna happen now) So because all of the money we put in he made a new lease in May and had us paying only 450.00$ a month , enough for the bills he said. He told us it was our house now and he leave it for us in his will but obviously died before that. So my question (finally) is isn’t that kinda unfair price wise ? Like where else will I find a place this cheap? We worked hard to get the reduced rent. Not to mention we have 5 kids she asking me to uproot in middle of school year. And pack n move right after the holidays! She wants us out by second week of January! And we are a lower income family, living paycheck to paycheck basically. She told me I should take it as new owner might be a tyrant. And since I’m already planning on leaving in May I would be smart to take her offer. Also Sorry I wrote so much but it’s a pretty complicated situation. Any advice is much appreciated! TIA :)
 


Gail in Georgia

Senior Member
If you don't feel comfortable with the amount and how quickly you have to move out, don't accept this offer. Your lease would remain in effect until it would normally expire (May, 2020).

The ball is in your court legally speaking. You can decline the offer, accept it or negotiate for a better deal.

Gail
 

STEPHAN

Senior Member
They made an offer. Make a counteroffer. I would ask for 4000. But be aware, if he waits till May, you will get nothing.
 

bcr229

Active Member
Add up all of your expenses for clean-up, repairs, labor, etc. Ask for that much plus a bit more for the hassle of moving at a bad time (winter, middle of school year, etc.) plus a bit so you can negotiate down to the amount you want.

Avoid getting emotionally invested; this is a business transaction, nothing more.
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top