It May be Listed, but its Not Really For Sale. I had a buyer very excited to see a home last night. It was priced well, in a good neighborhood and met this buyer’s requirements. It wasn’t perfect, it needed a little TLC and the pictures indicated that the house was over furnished and pretty messy.
As I read the remarks in the listing I noted that there were Tenants in the home. This makes for a more complicated showing as they may require 24 hours notice. In my experience, some will allow a showing sooner but not all, tenants do have rights.
I called the “Phone to Show” which usually reaches the tenants. The listing agent answered. I then learned the “Occupants” would require 48 hours notice for showings and the request must be by email or text and we could only proceed if we received confirmation. I began to explain that the Washington State Landlord Tenant Act limited the tenant’s notice to 24 hours, but was abruptly cut off. “Freddie Mac rules are that we are to give them 48 hours….” I asked if the current “occupants” were the previous owners. “Freddie Mac says I’m not allowed to ask that, I can only tell you the rules state….”
My translation; this was probably the previous owners who have stayed past the foreclosure date. They declined an offer of cash for keys and are staying put until they are forcibly evicted. Chances are good that if showings are going to be a challenge, arranging for inspections and appraisals would be even more complicated. My mind was finally made up when the listing agent told me, “Freddie Mac will not guarantee the home would be vacant at the time of closing.” My clients are first time buyers just trying to find a nice affordable home for their young family. They don’t want to be landlords, learn about evictions or be part of pushing another family out of a house they have lost.
So, the home may be listed, but it’s not really for sale.
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