You can sell it but the new owner will have to follow the lease. It is always best to let the tenent know. Sometimes the tenent may want to buy it from you. Good luck.
This is very common and your tenant is protected through the end of his/her lease. But make sure you let your tenant know in advance of the sign going up and assure her/him their rent cannot be increased until the end of their lease.
Look up online the Baltimore City Paper... Couple weeks ago they ran a big two-part (two week long) cover story on... You guessed it... buildings collapsing because their basements were dug out. It was a morass of bad engineering, faulty contracting, larcenous permitting, elderly antique buildings that were never meant to be dug out, and Baltimore city BS.
Proceed with caution. Buildings like yours are probably 100+ years old, and their supports have long since withered. Weakening them by digging out the basement can be risky.
Congrats on buying in a great area. Hope it works out!
Yes. The house is over 100 years old however it is still in good condition as the previous owner renovated kitchen, 3 bathrooms & roof replacement for about 3 years ago. We did the inspection few months back before we settled the house, and the report is excellent. We will call the building department and see the possibility of converting the basement to an effiiciency unit, as well as the cost. It looks like some houses in the area have added an apartment unit in their basement though.
Thank you![ Edited by Shortbread on Date 11/16/2006 ]
You can sell it but the new owner will have to follow the lease. It is always best to let the tenent know. Sometimes the tenent may want to buy it from you. Good luck.
This is very common and your tenant is protected through the end of his/her lease. But make sure you let your tenant know in advance of the sign going up and assure her/him their rent cannot be increased until the end of their lease.
Before you dig out the basement do this:
Look up online the Baltimore City Paper... Couple weeks ago they ran a big two-part (two week long) cover story on... You guessed it... buildings collapsing because their basements were dug out. It was a morass of bad engineering, faulty contracting, larcenous permitting, elderly antique buildings that were never meant to be dug out, and Baltimore city BS.
http://www.citypaper.com/news/story.asp?id=12082
Proceed with caution. Buildings like yours are probably 100+ years old, and their supports have long since withered. Weakening them by digging out the basement can be risky.
Congrats on buying in a great area. Hope it works out!
MC
[addsig]
congrats on your buy plez be careful because you dont want inspectors coming in and giving you fines again congrats.
Yes. The house is over 100 years old however it is still in good condition as the previous owner renovated kitchen, 3 bathrooms & roof replacement for about 3 years ago. We did the inspection few months back before we settled the house, and the report is excellent. We will call the building department and see the possibility of converting the basement to an effiiciency unit, as well as the cost. It looks like some houses in the area have added an apartment unit in their basement though.
Thank you![ Edited by Shortbread on Date 11/16/2006 ]