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Rainmaker
748,802
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

What Alexandra said. Tenant estoppels are common when transferring a property subject to existing leases. They reaffirm that a lease is in place, and all parties affirm that it is in force.

Jun 06, 2017 06:53 AM
Rainmaker
4,572,951
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Nathan,

In our experience it was a letter or certificate.  The terminology varies. When a property is sold that has leases in place (office building, retail center), the leasee is acknowledging that the lease they have with the present owner is the only agreement they have with the present owner of the building, and that there are NO other side agreements that may affect the property .  A

Jun 06, 2017 06:39 AM
Rainmaker
3,127,715
Richard Weeks
Dallas, TX
REALTOR®, Broker

We use estoppel letters (tenant estoppel certificate) on commercial transactions, where the properties are tenant occupied.  

Basically the tenant confirms their monthly rent amount, when the next payment if due, the amount of their security deposit, when their lease expires, do they have the option to renew the lease.

Jun 06, 2017 06:35 AM
Rainmaker
1,113,129
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

In my area, an estoppel letter is a piece of document that tells the closing attorney what fees are due to the HOA at closing.

Jun 06, 2017 06:26 AM
Ambassador
2,363,840
Fred Griffin, on leave of absence from ActiveRain
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

     HOA Estoppel letters are a big racket in Florida.   Sellers or buyers get charged $450+ for these at Closing.

   Florida Statutes 720.30851 > Estoppel Certificates

Jun 06, 2017 12:39 PM
Ambassador
4,370,434
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Info for the buyer regarding the tenants.

Jun 06, 2017 11:02 AM
Rainmaker
2,826,511
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

It can be used in leasing or mortgage negotiations. The document establishes facts - for example regarding current agreements in place between a landlord and tenant. 

Jun 06, 2017 08:10 AM
Rainmaker
854,616
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Fred Griffin beat me to it LOL

Jun 07, 2017 06:20 AM
Ambassador
3,444,515
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

In our area, they are not commonly called Estoppel Letters but, the attorneys require them for HOA pay-off, assessment info and other HOA certification that is required by NC or SC (as required by the lenders). 

They are also required when a home is sold that is currently leased and transferring ownership. 

Jun 06, 2017 01:47 PM
Rainmaker
777,442
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

If you don't know, you can find out here! (warning, I'm promoting Nathan's post) What is an estoppel certificate -Kasey

Jun 06, 2017 08:41 AM
Rainmaker
1,368,357
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Your blog post explained it nicely for the purposes of investment properties and property management.

Jun 06, 2017 08:24 AM
Rainmaker
1,222,072
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Not being a commercial agent I would accept Ron and Alexandra Seigel explanation but would check with state laws in your state

Jun 06, 2017 07:00 AM
Rainmaker
4,432,467
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thanks for sharing.

Jun 07, 2017 06:16 PM
Ambassador
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Harry F. D'Elia
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

On my broker exam

Jun 07, 2017 06:22 AM
Rainmaker
1,559,320
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Nathan: Are you in Utah?

Jun 07, 2017 06:09 AM
Rainmaker
4,797,822
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

It's a letter saying the seller is up to date on all payments and responsibilities to the homeowner or condo association and is not encumbered in any way from selling the property.

Jun 07, 2017 04:45 AM
Ambassador
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Nathan Gesner - learned about it for the license exam and.... now I know! Thanks for the question.

Jun 06, 2017 10:17 PM
Ambassador
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Something tells me you know what this is. Are you trying to do some teaching to the Utah students, Nathan?

Jun 06, 2017 07:19 PM
Rainmaker
3,858,009
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Ron and Alexandra Seigel have the right answer to your question!

Jun 06, 2017 05:39 PM
Rainmaker
1,384,127
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Nathan Gesner Candice A. Donofrio and Richard Weeks have answers for commercial leasing.

Jun 06, 2017 11:31 AM
Rainmaker
1,263,312
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

What Ron and Alexandra Seigel said.

Jun 06, 2017 11:05 AM
Rainmaker
5,503,183
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

There could be many applications.

Jun 06, 2017 10:39 AM
Rainmaker
3,212,019
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

An estoppel certificate is a document used in mortgage negotiations to establish facts and financial obligations, such as outstanding amounts due that can affect the settlement of a loan. It is required by a lender of a third party in a real estate transaction.

Jun 06, 2017 08:17 AM
Rainmaker
941,060
Thomas J. Nelson, Realtor e-Pro, CRS, RCS-D, Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

In CA it is a required disclosure where applicable: when the owner of a rental property (income property) provides the buyer with all the rental info: lease(s), rents, sec. deposits, etc.

Jun 06, 2017 07:13 AM
Rainmaker
780,753
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

For some HOAs and management companies it is a profit opportunity at $250 a pop, then what everyone else said.

Jun 06, 2017 07:10 AM