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Updated over 6 years ago,

User Stats

45
Posts
20
Votes
Joni Chin
  • Investor
  • Honolulu, HI
20
Votes |
45
Posts

need advice on inherited tenant on house I am going to flip

Joni Chin
  • Investor
  • Honolulu, HI
Posted

Well I closed on a property yesterday that I was going to flip. Going in I knew it was tenant occupied but on a month to month (but paying weekly) and it was a fast close and typically I deal with any inherited tenant situation while still in escrow and have some kind of contingency/agreement in place for that but I bought through a wholesaler this time and it was basically a no contingency deal. So after closing I was finally able to get the contact info for the seller and the tenant and she told me she has not given any notice to them except that she texted my info to them when I asked her to notify the tenants about the sale & if she gave them the 30 day notice.  And they were surprised and a little upset that the seller was not truthful to them when they asked if the property was for sale. (great)  Well according to landlord tenant laws they are still supposed to get a 30 day written notice so now that its mine I will have to give them written notice. And I know that legally an email or text notification which the tenant acknowledged isn't sufficient right? (This is Indianapolis) Which will add a few extra days before that 30 day countdown begins, since I will have to get someone there to deliver a notice. This is my first purchase in Indiana and I didn't buy this place to be a rental but a flip so the entity is not set up to handle dealing with rentals and tenants, which is a subject for whole other discussion topic! Depending on how quickly we are ready to start working on the project I'm just wondering if I should do a cash for keys kind of deal in exchange for encouraging him to move out a little early and avoid any holdovers. So just looking for advice from others who have been in this situation. 

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