4 Replies Latest reply: Oct 4, 2019 3:08 PM by ohst8er RSS

    Selling rented vacation home but not the furnishings

    moosebigd Active Contributor

      We are considering the purchase of another vacation rental and selling our current condo.  We would prefer that the new property be furnished but the market for that kind of home does not look promising in our area.  Therefore, there is a good possibility that we will be taking the contents of our current condo to our new home because I don't want to go through the aggravation of furnishing a new home from scratch.  Here's where things get messy...  we have renters who have booked to stay until Easter.  If we sell and settle before Easter, any ideas how to handle the situation of pulling out the rugs under paying guests (figuratively speaking, of course!)?  Our new home could sit empty until Easter, but I really wouldn't want to do that.  And I feel it would be inappropriate to ask these people to search for another property at this late date.

        • Re: Selling rented vacation home but not the furnishings
          feibus Senior Contributor

          If you sell, those reservations likely are to be cancelled anyway, since you cannot provide the property you rented them.  And if the purchaser wants to honor the reservations, that's between the three parties as to whether that transfer can occur and how it happens, because work will be involved.

           

          And from experience, furniture purchased for one home might not fit properly in another.  

          • Re: Selling rented vacation home but not the furnishings
            calicalling Active Contributor

            In our state/town (for financed properties), furnishings cannot be part of the RE purchase contract.

             

            That means that on each of our sales we had to have our agent separately negotiate the transfer of personal property (furnishings) within the homes. We usually did this in conjunction with our negotiations on how future reservations would transfer as well. Our agent had a ton of experience with this kind of thing, and really held our hands through the first deal.

             

            All to say, this sounds like a situation that will require negotiation with the buyers  . . . its hard to give advice about what to do when you may have to be willing to work around what the buyers will accept.

            • Re: Selling rented vacation home but not the furnishings
              wildiris Active Contributor

              If I understand your post, you are hoping to sell your current vacation rental and close before Easter 2020.  But, you have entered into a rental agreement with guests who will be staying until Easter.  Unless your rental agreement contains a provision that you have the right to terminate the agreement in the event that you sell the vacation rental, you will be in breach of your rental agreement with your guests.

               

              I'm not sure what advice you are asking other Community members to give.  My advice is to honor your contactual obligations with your guests.  If you enter into a contract for sale of your existing vacation rental, the sale agreement should provide for a closing date after all of your booked guests have left.

              • Re: Selling rented vacation home but not the furnishings
                ohst8er Premier Contributor

                I’m not a real estate attorney but I can give you some really sound legal advice.  Don’t take anybody’s advice on this forum as to what to do in this situation.  instead, consult  a real estate attorney in your area.