Legal Question in Real Estate Law in New York

Can My Tenant Buy my Home 4Sale w Realtor

My NYS Exclusive Right to Sell contract with realtor expires in 6 mos, plus 3 mos commission responsibility, or 9 mos from now. It says I may not enter a contract to sell during that time.

My tenant--name removed--lease expires at the same time. Can I change the lease to give the tenant the option to buy now, or must the purchase take place after my 9 mos obligation to realtor expires?? I found the tenant who is in his second year with me.


Asked on 7/14/07, 10:10 am

2 Answers from Attorneys
David Slater David P. Slater, Esq.

Re: Can My Tenant Buy my Home 4Sale w Realtor

Since you have given the realtor an exclusive you cannot effectively give a first option.

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Answered on 7/14/07, 10:40 am
Johm Smith tom's

Re: Can My Tenant Buy my Home 4Sale w Realtor

You'll have to wait until the agent's contact expires before you can grant an option. Otherwise, the agent will sue for their percent.

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Answered on 7/14/07, 7:42 pm


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