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Category: Real Estate Law
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Experience:  20 years extensive experience in real estate law, foreclosure, finance, and landlord tenant law.
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This is a question for a Real Estate Lawyer practising in CA: My

Resolved Question:

This is a question for a Real Estate Lawyer practising in CA:

My partner and I are selling our condo and unfortunately that is not going so well. We are not getting enough interest and there hasn't been any offers yet. We are thinking about renting it. I am wondering if it is legally ok for us to advertise (in places like craigslist etc) for rental even though we are still a contract with our real estate agent? The agent said (verbally) she is totally fine with it. Our agreement was the standard CA real estate association form. Thank you!
Submitted: 10 months ago.
Category: Real Estate Law
Expert:  Law Pro replied 10 months ago.
Hi! My name is XXXXX XXXXX I'll be the attorney assisting you.

Clearly, that would be a breach of your Listing Agreement with the agent.

That by renting the property after you have executed the Listing Agreement you are taking the property off the market or prohibiting it's sale by increasing encumbrances upon the property - a breach of the contract.

A lease is an interest in the property.

Now if you leased the property by also having within the lease having a clause that they have to vacate if the property is sold - that would be fine.

OR, if you got the agent to agree to your leasing the property in writing - which would then be OK for you to lease it and not be in breach of the Listing Agreement.
Customer: replied 10 months ago.
Hi Fred,
Thanks for your response. A clarification question: At this stage, we are merely considering renting the property, not actually renting it. Thus we want to know if it is OK to start advertising for it. We would not be actually renting the property anytime soon. We expect to start the rental lease agreement to conincide with the end of the contract listing date. This way we save time for looking for prospective rentees. We also want to see what kind of interest there is. Thanks.
Expert:  Law Pro replied 10 months ago.
At this stage, we are merely considering renting the property, not actually renting it.Thus we want to know if it is OK to start advertising for it. We would not be actually renting the property anytime soon. We expect to start the rental lease agreement to conincide with the end of the contract listing date. This way we save time for looking for prospective rentees. We also want to see what kind of interest there is. Thanks.

Oh, that would be acceptable certainly.

That you are only advertising the property for rent potentially is not encumbering it in any way.

That's more than acceptable - actually prudent.

Customer: replied 10 months ago.
Thanks Fred for the followup. Here is another:

Would it still be ok for potential interested parties to come and view the property within the listing period? Would this be encumbering or not?
Expert:  Law Pro replied 10 months ago.
Yes, absolutely. Prospective tenants looking at the property does not, or is not, a breach a breach of the Listing Agreement. That would be fine.
Law Pro, Lawyer
Category: Real Estate Law
Satisfied Customers: 23804
Experience: 20 years extensive experience in real estate law, foreclosure, finance, and landlord tenant law.
Law Pro and 2 other Real Estate Law Specialists are ready to help you
Customer: replied 10 months ago.
Awesome; thank you!

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