Hi All,
hopigng someone can shed light on this one, if you currently have a rental property being managed by a RE Agent, and then you go to sell that property, are you then liable for termination fee. If so, when does this occur, once the current tenant leaves the property or when the property sells.
I just always assumed that the termination clause was only relevent if I were to give the rental to a different RE Agent or was to manage the property myself.
Thankswhat does your contract say?
the real question is what happens when your property is purchased by another investor who also hires the agent to manage for them (like we did recently :)
as you’re probably going to hire an agent to sell the property for you…..why not negotiate with the PM that you don’t have to pay the break fee in order to give them the sale……..alternatively go to another agent and tell them that they can handle the sale as long as they pay the break fee for the PM contract you signed……
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