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Updated over 8 years ago on . Most recent reply
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In Contract Eviction - Advice Needed
I am in contract on my first multifamily (4-plex). Since we have gone into contract, one of the tenants has been served a notice of eviction for nonpayment of rent. I have two questions:
1. Should I wait until the eviction is resolved with the current owner to close on the property?
2. There has been another (higher) buyer since we've gone under contract. Should I be concerned that the seller can use this extra time to break contract and sell to the other buyer?
Thanks,
Wade