Legal Question in Real Estate Law in Texas
I own a duplex we are doing a short sale on as we owe more than its current market value.
When we put it up for short sale 1 side was up to date with rent and the other was in arrears by 2 months.She also was in arrears for part of her deposit.
Our realtor advised us to stop collecting rent. My question is who would get rent on a short sale and also who is responsible for repairs.
The tenant who was in arrears when we stopped paying rent is now complaining her A/C doesn't work and also she has a leak in upstairs bathroom.
She previously informed us her husband who is a plumber would fix the leak if we reduced their deposit . We agreed to this and she told me that they had spent $200 and it was done but could not show receipts.
It is my first investment property so I dont know anything about the law concerning rentals and especially with short sales
1 Answer from Attorneys
It is really bad that your realtor is giving you legal advice. I wonder why she advised you to stop collecting rent and give the tenants a free ride? When you don't honor the terms of your lease (e.g. not make required repairs, you are in default). I would consult with an attorney regarding your rights and obligations. None of this may matter if the short sale goes through quickly.
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