The lender accepted a short sale offer on the house we're currently leasing, and we were told the closing would be in late March. Yesterday, the listing agent tells me that the buyers' first attempt at financing failed, and that they are seeking alternate financing. Meanwhile, she wants to start showing the house again to obtain backup offers. My question is this: do I have the right to require 30 days notice to vacate from the time financing is actually obtained? From what I hear/read, financing is the high hurdle to make it to closing. Am I unreasonable to want my notice to vacate to be predicated on the new buyers actually having financing in place, instead of on some vague expectation that closing [I]might[/I] take place on a certain date? I'm reasonably certain that the seller would like to continue to collect rent from us for as long as possible. I'd love to hear from Realtors or others with tenant-occupied, short sale experience.
