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Updated almost 10 years ago on . Most recent reply
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Seller has a occupant in tri-plex says he knows nothing about her but wants to sell the place without doing anything about her
We have found a wonderful investment opportunity for a 3 unit rental within a block of popular college campus. The current owner purchased the property a little over a year ago in foreclosure. We have come together on price but are having a huge scasim over an occupant in one of the units. The current owner is out of state but is aware that one of the units is occupied. We have spoken with the occupant and she claims she and her disabled son have been renting the palce for 4 months. The seller says she does not pay him rent and he has no lease. I have no idea if she is a squatter as it appears that she is paying rent to someone who is not the owner of the property. I tried to make (1) a copy of the lease and (2) letter that seller has no security deposit to transfer to buyer as part of the offer. The seller is balking that he cannot provide this and the property is to be sold as is with a self-serving addendum that we will not sign on advice from our attny. The addendum seems to be common with foreclosures but this is NOT a foreclosure now. I really want to purchase this property but am really scared about the potential liabilites from this squatter. Any advice?