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Updated 8 months ago,

User Stats

90
Posts
55
Votes
Vlad B.
55
Votes |
90
Posts

Issues S8 Tenant Eviction for Property Sale

Vlad B.
Posted

Hi BP Community, need your advice.
I'm closing in on my property sale in early June. One of the stipulations for the sale was to provide effort to remove 2 problem tenants in the building. One tenant was removed and the last tenant is S8. My PM put in a 60 day to vacate notice and the HUD tenant never moved out. Tenant promised she was moving 2 days ago. Tenant is saying new apartment isn't ready until the end of June. Terms were not to turn the units and leave them vacant for the new owner.

If this tenant doesn't move out, I risk postponing the close date, and losing money on the mortgage every month this situation drags on. Buyer's agent suggested "Cash to move out" but I'm not exactly sure how that matters if the tenant is HUD and needs a new HUD apt. HUD tenant's rent is under rented by $500 per month and HUD re-evaluated her unit and lowered the HUD payment by $7 per month. If they were paying market rent, things may be slightly more palatable.

How can I get this moving with the buyer so that I can sell the unit in June? 

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