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It is a scary situation for them Roshe Run Air and it is important to understand that. I closed on a property two weeks ago with a family that lived in the house 15 years. The house I purchased today has a 20 year family in it. They lived there when the guy I bought from purchased it! Funny that they have seen more landlord turn over than the landlords have seen tenant turn over!
Being there that long, they probably have a lot of friends in the neighborhood, kids in the local schools, etc. I like to let them stay and I let them know that when I go out to meet them. Keeping them on as tenants is much less expensive than doing a turn over and dealing with a vacancy even if they are paying below market rents. Of course I raise the Roshe Run White Black
over a property with a disgruntled tenant, but I been doing this long enough that I don have those concerns! hahaha
Aaron, I have a similar situation I am going through. I hate to hijack this thread but what if the tenant has been offered to purchase the property in the past by the seller?
Almost all my deals are private sellers with tenant occupied properties, just bought two today. I prefer not to even talk to the tenants until after we close. Then I go out there and speak with them in person. I bring an application, just cuz they lived there before doesn necessarily mean they qualify to live there under my program. I give them a day or two to get the application back to me. If everything checks out, I make them sign a new rental agreement. I have yet to get a property with a tenant on a lease. Not that I haven tried, just most mom pop landlords are not that professional. Even if they are on a lease, I still try to get them to sign a new lease with me. I don want a tenant living in my property under some other person rules. I find most tenants are quite docile, especially the long stay ones and you can get them to roll over quite easily if you are nice to them.
wouldn worry too much about it. It be quite miserable if one showed up after the fact, but I deal with that alligator when it shows its head. You may want to ask the seller to have the tenant to vacate before you close, but I would keep moving forward with the closing with them in the house. It could get nasty in there if you take Nike Roshe Run Print Running Shoes
Originally posted by Ben L.:Originally posted by Aaron Mazzrillo:Make sure you get a credit for any deposit the tenant might have paid. Get them to sign an estoppel stating how much they paid, how much their rent is, if they are on a lease or month to month, and that they have not been offered any kind of deal to purchase the property.
rents up, but just a little bit at time.
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How do you buy with tenant in house
Cash for keys always works nicely. The majority of the properties I wholesale come with tenants and it is how most of my buyers get them out.
Make sure you get a credit for any deposit the tenant might have paid. Get them to sign an estoppel stating how much they paid, how much their rent is, if they are on a lease or month to month, and that they have not been offered any kind of deal to purchase the property.
That when you have an unhappy tenant if they stay, after you buy. Be sure that if there was some purchase deal for the tenant, that the tenant declines it in writing, and that the offer has expired / passed any deadline for acting. that is exactly why I have escrow get the estoppel. If they say they have an agreement, see if the tenant can provide escrow with a written copy. If the tenant doesn have a written copy, and the seller says there isn one. I Nike Roshe Pictures
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