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About Megan B. Hord
Expertise
I specialize in residential property in both SC & NC. Aside from being a licensed Realtor in both states, I am also a licensed interior designer and a certified paralegal - so I am very familiar with both builder and legal languages. My main areas of expertise are the Lake Wylie area, Charlotte (NC), Rock Hill (SC), Fort Mill (SC), and Lake Norman (NC). I have a great deal of experience in assisting relocation clients and can answer any questions regarding relocation to make the transition a smooth one. Also, I can do a market analysis for current residents to determine their home's worth in today's marketplace. I have the knowledge and expertise to answer both general/broad and specific real estate questions and am happy to help in any way I can.
Experience
Licensed NC/SC Realtor, licensed interior designer, certified paralegal. SC resident (York County specific) for 26 years.
Education/Credentials
BA in Fine Arts (Concentration: Interior Design) from Winthrop University; Paralegal Certification from the Center for Legal Studies; SC/NC Real Estate Licensee
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You are here: Experts > Cities/Towns > South Carolina > Real Estate: South Carolina > My house is leased to investors who intend to sell it
Expert: Megan B. Hord
Date: 5/20/2008
Subject: My house is leased to investors who intend to sell it
Question
one yr.ago I leased my house to investors whose intent was to sell it & profit by the sale. I had gotten a divorce, couldn't afford the payments on my own. I have a 3 yr. contract with said investors. Now, due to the decline in the housing market, the investors want to stop making payments & return the house to me. What recourse do I have? Can I enforce the lease agreement? I can't afford another move.
Answer
hi phyllis -
i am sorry to hear you are in this predicament. i am not an attorney so please don't regard this as legal advice - but i will help you the best way i can. first of all, without a doubt, a lease is a legal and binding agreement that you can absolutely enforce as long as both parties have signed it and agreed to the original terms as set forth in the agreement. if they agreed to three years, then they are on the hook for three years. and you can hold them responsible for those remaining payments unless there is some sort of clause in your agreement that has a set fee for breaking the lease (for example, "tenants will be charged $5,000 for vacating premises prior to xxxx date" etc.). your best bet would be to have an attorney look over your lease agreement and write them a letter stating your intentions to hold them fully responsible for the remaining months on the lease if they choose to break the agreement in addition to holding them responsible for your attorney's fees and any other fees incurred. as long as you have held up your end of the bargain, you will be fine! a lease is a commitment and you can't just wake up one morning and decide to abandon the lease "just because" without facing the consequences. and in your case, i feel very confident there will be financial consequences for them, and i'm sure the attorney will second this opinion, provided you have a good solid lease agreement. i hope this helps! best of luck to you!
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