Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago on . Most recent reply

Account Closed
  • Dallas, TX
0
Votes |
8
Posts

Tenant Still in Property at Closing

Account Closed
  • Dallas, TX
Posted

My name is Cherida Murphy and I am newbie investor looking to close on my first deal. I've started out looking to flip distressed homes in the DFW. If you're familiar with Dallas, then you know how competitive this market is here. With that said, I have submitted multiple offers and been out bid every time. I finally got an offer accepted on a SFH at $100k with an ARV of $185k. However, I didn't have a good feeling about closing the deal because when my realtor and I went to look at the property, there were tenants still living in the property. We went to look at the home while the tenants were there and there were absolutely no signs of moving. No boxes and their stuff was still everywhere. I tried to negotiate the contract with the realtor that the tenant had to be out of the home by closing and the realtor (also the seller) wanted to back out of the deal while we were in the option period. Given that this property was intended on being a flip, I'm looking for any advice in handling tenants that are still living in the property at the time of offer. What are my options? If I close on the deal with the tenants still in the home, am I responsible for eviction if the tenants do not vacate?

Thanks!

Most Popular Reply

User Stats

485
Posts
310
Votes
Maurice D.
  • Coppell, TX
310
Votes |
485
Posts
Maurice D.
  • Coppell, TX
Replied

is it possible in a realtor based transaction to just approach the tenants and ask if they are aware the property is for sale and if they have been notified they need to be out by closing date?

Loading replies...