Talk about getting the cart before the horse. I have a client who is in all kinds of hot water right now because he didn’t listen to me. He did specifically what I warned him not to do, and now he isn’t going to be able to keep living in his own house!

It all started about six months ago when he hired me as his San Diego real estate agent. He thought that he was in a good position to buy a new house which would be bigger and nicer than his current house. He also realized that it is probably not a good time to sell San Diego real estate so I told him I would help him find a renter. We got him prequalified for a loan based on those two goals and quickly found a house that he fell in love with.

I told him to wait to rent out his house until the new one was closed. But he went off on his own and entered into a one year lease agreement with someone to rent his house. And shortly after that the lender came back and said that they could not do his loan after all because he had misrepresented his actual income. Now he refuses to move out of his house. And because of tenant’s rights, his new tenants are having him evicted from his own house because now he refuses to leave!

Technorati Tags: lease agreement, San Diego real estate, sell San Diego real estate