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 almost 8 years ago on .
Estoppel Agreement of a section 8 with month to month lease
I am looking at a rental property here in Ga. owned by another investor that is a section 8 SFR. We will be putting in an offer close to his asking price and I'm pretty sure he will accept. The tenant is running on a month to month lease and I plan on doing a Dispo then renovating it for a flip.
Will be my first buy with a section 8 tenant in place and I don't know where to start with negotiating//navigating the transaction. My realtor suggested we put in the contract that the funds be held in escrow until tenants are out and can take possession. Ga law says the tenants will have 60 days to vacate. So the question is what are some good strategies and the best way to negotiate deposit/rent, price and property condition until we take possession?
Times like these I wish I had a mentor!