OfferIQ
Tired landlords

Done being a landlord? Sell with the tenant in place.

Late rent, repairs you keep funding, a lease you cannot end. Enter the address and see your number. You do not have to give notice, clear it out, or fix anything first.

See my number

Two questions about your situation, then your address. Nothing is signed by looking.

A house with a small front patio and two chairs
  • The lease staysa written lease runs with the property through a sale
  • 3 daysthe notice to vacate for nonpayment, unless the lease says otherwiseProperty Code 24.005(a)
  • 30 dayswhat a foreclosure purchaser must give a qualifying residential tenant24.005(b)
  • Day of titlewhen a new owner becomes liable for the security deposit92.105(a)

The clock you are on

The leaseWe buy subject to it. The tenant stays or goes on their own terms, not yours to manage.
The repairsThey are in the number. The inspection checks what you reported, and small things are ours.
The closingWithin 21 days of signing, at the title company. Rent prorates on the statement.

What we do about it

Plain terms. The same ones on every page and in the agreement.

  1. 1
    One inspection window, coordinated with the tenant. You do not need to be there.
  2. 2
    Your number shows the math, beside what listing would net after vacancy, repairs and commission.
  3. 3
    A portfolio? Each house gets its own page and its own number.

How we help with this specifically

We buy with the tenant in placeNo notice to give, no turnover to fund, no eviction to run before you can sell.
Deferred repairs stay oursPlaceholder. Replace with a real example of a house bought with open repair items and what they came to.
A portfolio gets one closing datePlaceholder. Replace with the largest group of houses closed on one day.

A tenant does not have to leave before you sell, and in Texas the sale does not cancel the lease. The buyer takes the property with the lease attached to it.

That is usually good news for a landlord who is done. It removes the part most owners dread: giving notice, funding a turnover, and carrying an empty house while it sits on the market.

The lease survives the sale

A written lease runs with the property. When ownership changes, the tenant keeps the same terms, the same rent and the same end date, and the new owner steps into the landlord role.

Month to month works the same way, with whatever notice the agreement requires to end it.

The security deposit moves with the property

Under Property Code section 92.105 the new owner is liable for returning the security deposit from the date title is acquired, and must give the tenant a signed statement saying so and stating the exact dollar amount held.

The previous owner stays liable until the new owner receives the deposit or assumes the duty, which is why the deposit is normally credited to the buyer at closing and listed on the settlement statement.

One exception in the statute: this does not apply to a mortgage lienholder who takes title through foreclosure.

Notice periods, if it ever comes to that

For nonpayment, Property Code section 24.005 requires at least three days written notice to vacate before an eviction suit can be filed, unless the lease sets a different period in writing.

A purchaser at a foreclosure sale has a different obligation and must give a qualifying residential tenant at least 30 days written notice to vacate.

None of this is something you have to run before selling to us. We buy with the tenant in place.

The repairs you have been funding

Deferred maintenance is in the number rather than a reason to reduce it later. Nothing is fixed, cleaned or turned over before closing.

The one inspection is coordinated at a time the tenant agrees to, and you do not need to be there.

More than one house

Each property gets its own page, its own county record and its own number, and they can close on the same day at the same title company.

Rent prorates on the settlement statement, along with taxes.

Written from the statutes themselves: Property Code chapter 92, chapter 24. We are not lawyers and this is not advice about your own case.

Questions people ask

Can I sell a rental with the tenant still in it?

Yes. In Texas a written lease runs with the property, so the buyer takes it subject to the lease. No notice to give, no turnover to fund, no vacancy to carry.

Does the lease end when the property is sold?

No. The terms, the rent and the end date all stay the same, and the new owner steps into the landlord side of it.

Who is responsible for the security deposit after a sale?

Under Property Code section 92.105 the new owner is liable for returning it from the date title is acquired, and has to give the tenant a signed statement saying so with the exact amount. That is why the deposit is normally credited to the buyer at closing. It does not work that way for a lienholder taking title through foreclosure.

How much notice does a tenant get in Texas?

For nonpayment, at least three days written notice to vacate before an eviction suit is filed, unless the lease sets a different period. A purchaser at a foreclosure sale has to give a qualifying residential tenant at least 30 days.

What if the tenant will not let anyone in?

Then we work with the photos you have and schedule the one visit at a time the tenant agrees to. Talk to a person and we sort it out.

Can I sell more than one at a time?

Yes. Each house gets its own page and its own number, and they can close together at one title company.

What about the repairs I have been putting off?

They come off the number and are shown line by line. You do not fix anything.

Does the tenant have to move out?

No. We buy with the lease in place. What happens after closing is between the new owner and the tenant, under the lease.

What if the tenant will not let anyone in?

Then the photos you have and a verifier visit at a time the tenant agrees to. Talk to a person and we work it out.

What if the inspection finds something?

If the house matches your photos, nothing changes. If something material was not disclosed, we send the documented repair cost in writing and you choose: adjust by that amount, or walk away with your earnest money back.

Do I have to talk to anyone?

No. Most owners go from address to signed agreement without a call. A person is available on every screen, and we do not call unless you ask.

See your number

About five minutes. No name, phone or email to see your page. No obligation.

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