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Updated over 2 years ago,
First Multifamily Property Concerns
Good evening everybody,
I am new to the Hampton Roads area and I am purchasing my first multifamily property in the area. I do own one rental property so I am an amateur at best in the real estate field. The current issue I have is that there are two tenants occupying the property I will close on next Monday. They do not pay anywhere close to market value in rent, one is month to month and the other has a lease with the last owner until January 2023. The problem is, according to the seller's realtor (which BTW is mine as well), the tenants have been given the notice to vacate, and it's been 30 days since they supposedly gave the notice. The month-to-month tenant has not left the property and probably won't be out this weekend. The realtor wants me to still close and evict the person on my time after the deal is completed. The seller (to my knowledge) has not collected rent from the occupants since he acquired the property last month.
My question is, am I legally obligated to file an eviction on this person the day I close, or will I have to give him another notice and wait 30 days to get him out? Also, is there anything more the realtor can do to get the person out? Should I offer the tenant cash for keys to get him out in a week? Lastly, is it a good idea to close on this deal or should I let it go?
Thank you all for your time and help I really appreciate it.