Seller Mis-Represented Lease Terms - Help Needed

[Maxwell Servais]

Question! I have been under contract since 10/10 on a quadplex in Wisconsin. The main reason I purchase this property is because I was planning to house-hack. Seller had noted that 3 units where rented until 8/31/2025, and with the 4th unit being open I though it was the perfect opportunity. Leases where due to me on 10/17, but on that date I had only received one. Today, I received the other two leases and noticed they are both on a month-to-month bases. The cherry on top is that one of the tenants is choosing not to renew as of 10/31. This is not a total deal breaker, but am I little frustrated that sellers misrepresented 2 of the leases being annual until 8/31/2025. I really do not want to back out of the deal, but curious if I could negotiate a reduced price or something of the sort. Any advice is helpful!

[Matt Devincenzo]

I'm not sure why you're disappointed. Having tenants that I can screen, get on a lease I want and at a rate I want are all good things. If the current MtM tenants fit that profile, great! If not I can replace them without waiting until Aug, great! 

Why would you expect a price reduction when there is no impact to value from having a lease or not?