Florida Property Q & A - Trulia Voices Question 3

Below is a question raised by a prospective buyer, owner or seller of Florida property and the advice we were able to give:

Question:
Does the seller have to convey all rental bookings to new owner? I am in the process of purchasing a house in Davenport, and although I was told that there were no rental bookings in place on this property, i searched on the internet and found that the property was booked for several months, as some of these bookings will be after we finally complete on this property, where do we stand?
Answer:
With some short term rental home sales, the bookings are specifically included as part of the contract - an "addendum" is used to define what the seller is required to transfer. Even when things are that clear, there can be enormous problems when bookings are canceled before the closing, but at least there is a legal document to support the deal.

From your comment that "there were no rental bookings in place", it sounds as if there was no addendum - is that the case? If so, you have no claim on the bookings, whether they came from a management company or the owner.

One final thought: how extensive were the bookings? We have UK clients who use their homes (along with family members) so much that at least half of the year is unavailable to rent. Family time shows up in on-line calendars as "booked" and if it ever came to a sale, a prospective buyer could assume that those were paid bookings. Could that be the case here?

I know it might be difficult, but unless you have some written commitment from the seller, I'd recommend that you put aside any thought of "lost" bookings and focus on enjoying your new place.

This is only one of many questions we've answered about Florida property. For free help and guidance tailored to your own individual plans relating to Florida real estate, please visit our Florida property website.