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Updated about 8 years ago,
Evictions Prior to Closing
Hi All,
This is my first post and I am excited to read all the advice/experiences you have to offer. I am in the process of purchasing my first home. P&S has been signed with contingencies that the property must be delivered vacant upon closing or I can walk away/mutually extend with the seller.
Short background of the property:
Location - South Shore of Massachusetts
Property Type - Duplex (UP/DOWN)
Unit Details - up: 3BR/1BA/860SF down 2BR/1BA/1300SF
The tenants, who are currently residing in the space I plan to occupy (upstairs), are currently purchasing their own home. So there is no real issue with them.
HOWEVER, the tenants in the downstairs unit (the one I will be renting out) have not found a place to move to. They have been given an eviction notice by the existing owner and are "actively looking" for other spaces. I do not want to keep these tenants, they are paying ~$300/mo under fair value for the apartment AND they smoke cigarettes IN THE APARTMENT.
My question is with regards to closing in conjunction with the existing eviction efforts. Can/should I close on this property with the downstairs tenant in place and continue the eviction process myself? Or should I wait it out the and let the seller deal with the eviction process (assuming we do not get screwed with mortgage rate extensions).
FYI
I am not worried about the timeline, my current residence is stable and not going to expire anytime soon.
All advice is appreciated. If anyone has experience in MA that would be nice as well!
Thanks for your help,
Brian