Vacate units when buying multis?

[Robert Whitelaw]

Howdy Folks,

I wanted to reach out to see how many folks that have purchased multi-family properties required in the offer that the units be vacant at close of escrow.

I realize that it all depends on the context. However, I have found that in recent transactions, this request is needed so that work can be done and rents can be brought up to the market level so that the property will even cash flow.

[Robert Whitelaw]

Quote from @Stephanie P.:

Quote from @Robert Whitelaw:

Howdy Folks,

I wanted to reach out to see how many folks that have purchased multi-family properties required in the offer that the units be vacant at close of escrow.

I realize that it all depends on the context. However, I have found that in recent transactions, this request is needed so that work can be done and rents can be brought up to the market level so that the property will even cash flow.

 You can ask as part of the negotiation if it means that much to the transaction

Yes, and that is what we have been doing. I was hoping to see if this was something that was happening more commonly in other markets. But thanks for the reply.

R