Agent

Can home seller refuse to sell to rental investors?

Listing clause may not be enforceable
Published on May 18, 2004

DEAR BOB: I've owned my home almost 20 years, but the neighborhood is steadily declining. Close to 60 percent of the homes have become rentals. If I list my home for sale with a Realtor, can I specify in the listing contract that the home cannot be purchased for rental? If so, could a prospective owner-occupant buyer somehow legally wrangle around their promise and rent the house? I don't want my home to become yet another unkempt rental house like so many around me – Brenda G. DEAR BRENDA: If you add a clause to your listing contract, such as "Seller will not sell to a rental investor," that would be unenforceable if a buyer says he wants to live in the home but then rents the house to tenants instead. Purchase Bob Bruss reports online. A better alternative is to say nothing in your listing about your preference. However, when a purchase offer is received, you can then decide if the buyer is likely to be a landlord rather than an owner-occupant. Of course, be very careful that y...

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