is it safe to let a potential buyer to rent my home till they sell theirs

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is it safe to let a potential buyer to rent my home till they sell theirs

home is on market

Asked on July 20, 2016 under Real Estate Law, Georgia

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

Not really:
1) If they don't sell their home and you want them out, you'll have to file an eviction or ejectment action (which one depends on exactly how you set this up), which will take time and cost you money.
2) Suppose they damage the home while they are in it--even if you have a security deposit from them, if they do more damage than the amount of the deposit, you may find yourself with uncompensated losses.
And consider: if they can't afford to buy you home while carrying their existing house, or can't afford to rent from a hotel or a short-term apt. while selling their home, are they fiscally solvent enough to make sale likely?


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