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Updated 4 months ago on . Most recent reply
![Kenji Tominaga's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2749512/1684562481-avatar-kenjit3.jpg?twic=v1/output=image/crop=803x803@132x285/cover=128x128&v=2)
Pending closing the deal due to the current tenant not leaving
Happy Friday!
I'm currently in the process of closing my first primary residence deal in NYC, and I would like to ask for a piece of advice to the community.
The current tenant of the Seller failed to move out by the closing date and the Seller decided to take a legal vacating process.
Background
- The current tenant of the Seller failed to move out by the closing date and I heard the tenant is avoiding direct communications with the Seller
- Not sure from my end if the tenant is willing to moving out but struggling, or maliciously squatting
- I have a vacancy contingency in the contract, thus I can back out at my discretion due to this issue, but currently there is no other properties that I want to move on to due to the market condition
- The Seller is trying to take a legal action but it will at least take 3 months or longer, no promise to succeed
Advice to ask
- My attorney could not negotiate to ask for a penalty for this delay because the penalty for delay was not included in the contract. Any actions I should take while I'm waiting for the update?
- Any advice for the squatting tenant in NYC?
Thank you for your time!
Most Popular Reply
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@Kenji Tominaga
Tell them to offer cash for keys
While you cannot negotiate right now, I don’t see why you cannot just say hey I will cancel the contract unless you do X.
- Chris Seveney
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