Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal


Real Estate Classifieds
Reviews & Feedback
Updated 4 months ago on . Most recent reply

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

@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
