Seller Still Has the Tenant 4 Days Before Closing Date!
We are 4 days away from our closing date, and found out that the seller has done nothing to get their tenant out of the home. We dont know why, but the seller’s agent told us that we should evict the tenants. Obviously the eviction is the seller’s responsibility and we will not close until…
We are 4 days away from our closing date, and found out that the seller has done nothing to get their tenant out of the home. We dont know why, but the seller’s agent told us that we should evict the tenants. Obviously the eviction is the seller’s responsibility and we will not close until the home is vacant, as noted in our contract. Can someone help us on what we should mentally prepare for?
You do the walk through the morning of the closing. It’s standard and you have a right to it, not how feral put it.
If they are giving you a problem with this, walk away.
cmu, before you pass judgment (which you often do) you should probably know the entire story.
My story: The tenants were told by the sellers that they had to be out because they were occupying OUR apartment!! Did you skip over the part where I said that? We couldn’t live there while they were there.
They were offered a couple of thousand by the sellers IF they had to break the lease. Their lease expired by the time of closing, so they got it in their heads that they were still entitled to the money. They were just playing games.
Yes, we filed eviction papers to protect our asses. Yes, we were also on civil terms with them.
Yeah, forgot that. Tenants are human beings, too, with rights.
Um, do the tenants have a lease?
Why do you WANT to evict the tenants? Have you talked withthem? THey may be perfectly reasonable. When I bought my place there was a tenant in place and it was great to have the income while we did some reno over the first few months.
THis is absolutely crazy: >We started eviction proceedings immediately but we were also on decent terms with our inherited tenants
This is what’s wrong with so many small landlords…would you be warm & fuzzy with someone trying to evict you?
Been there… If your contract does stipulate it needs to be vacant, threaten to walk unless the tenants are out by the closing date. We did that, and what do you know, the tenants were out the day before the closing. Of course we demanded to see the property the night before the closing as proof (and you should too).
And yeah, the brokers are useless at this point. It’s all about the lawyers (read = $).
“seller’s agent told us that we should evict the tenants”
Nice!
***Bid half off peak comps***
most tenants are sane and realize when they need to move and find a new apartment. They may drag their feet, but they do it. However there are insane tenants who don’t care about their credit rating, don’t care about ever being able to rent again and will simply refuse to move. Those folks can occupy an apartment, basically as squatters, for years. Years. It is one of the biggest failings of our housing court system. The fact that they are insane is another factor why a judge will be reluctant to toss them on the street.
Agree with above, with your attorney’s guidance you can walk; use it as a bargaining chip to get lots of money to close with the tenant; put lots of money in escrow. Or, delay the closing which motivates seller to get the tenant out via a buyout or whatever they need to do.