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Dwayne B.
Dwayne B., Attorney
Category: Landlord-Tenant
Satisfied Customers: 33153
Experience:  Began practicing law in 1992
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My term tenants (7+ years) have had a lease option. The

Customer Question

My long term tenants (7+ years) have had a lease option. The option has come up twice and twice we have extended the contract because they couldn't get funding. This time I gave them the choice to perform or move out. They are getting divorced and the wife wants to stay in the house, so the daughter is purchasing my home, basically assuming her lease option. Essentially we are selling FSBO, except as the sellers we are not in control of the sale. Our deal originally was for them to assume our current loan. They are doing private funding, so the loan guy is handling the paperwork. I was sent what looks like closing paperwork & my point to them is I am not signing the paperwork which includes a grant deed to my property until their loan is funded and we are actually closing. Is there anyway I am opening myself up to liability or exposing myself in this situation? Should I hire an attorney to handle closing for me? I am also no longer CA resident. Docs they emailed fro me to sign are attached, as well as the sales contract they sent me. Ive only used typical CA Real Estate forms so i am very leery & feeling cautious.
Submitted: 11 months ago.
Category: Landlord-Tenant
Expert:  Dwayne B. replied 11 months ago.

Hello and thank you for contacting us. This is Dwayne B. and I’m an expert here and looking forward to assisting you today. If at any point any of my answers aren’t clear please don’t hesitate to ask for clarification. Also, I can only answer the questions you specifically ask and based on the facts that you give so please be sure that you ask the questions you want to ask and provide all necessary facts. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.

We're not allowed to review documents, unfortunately. I don't see how you would be opening yourself up to liability other than by not disclosing some issue with the property.

However, you should seriously consider hiring a lawyer to handle your part of the closing and review the documents. I've seen closing documents handled by a title company or a buyer and there were issues with them. If they had gone through and then the sale fell through as FSBO then at some point you would have to try and correct the title problems which could run into big money.

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