What rights does a Colorado tenant have when the house they are renting is sold? Our lease is up in 7 months.?
We are putting an offer on the house approx. $ 25k less than they “think” it is worth. The sellers agree all of the carpeting and tile need to be replaced (3000 s.f.). They were impressed with what we have done to improve the home, ie. painting the walls and area rugs to cover the stained carpet. They are unable to refinance their loan in May and will go through the foreclosure process if it does not sell. We are pre-approved for what our mortgage broker says the fair market value is. We do not want this house on the market, but we are not willing to offer more when we have done the work to make the house look as good as it does. We have an independent appraiser coming on Monday. I am also curious if we should hire an inspector as well. The bathroom walls (3 bathrooms) all have water damage and are in need of new drywall. To top it off this was a rental for two years before we moved in, the walls were stark white and dirty. The yard was full of huge weeds and trees that needed to be pruned. We took care of all of that without reimbursement. Now they want to capitalize on that and go for top dollar.