- Joined
- Oct 14, 2009
- Messages
- 22
Hi,
I've got an opportunity where I can buy a propert $50k below market value. There is a tenant in the house - no written lease.
I understand that a tenant in a house that is sold has a 90 day period to move out if I don't like the lease or the tenant... basically the fine print in the offer to purchase says I can have a vacant property.
The seller wants a quick close because she's drowning in debt. I want to put the property on the market as soon as I can. So my question is: does the 90 day tenant departure take place before closing or can I close and negotiate a new tenant departure date (under a new lease with me)?
I've got an opportunity where I can buy a propert $50k below market value. There is a tenant in the house - no written lease.
I understand that a tenant in a house that is sold has a 90 day period to move out if I don't like the lease or the tenant... basically the fine print in the offer to purchase says I can have a vacant property.
The seller wants a quick close because she's drowning in debt. I want to put the property on the market as soon as I can. So my question is: does the 90 day tenant departure take place before closing or can I close and negotiate a new tenant departure date (under a new lease with me)?