Closing Problems With Occupied Building

[Michal Kolenda]

Hi all, So I’m in the process of closing on my first building with a VA loan. We were set to close initially on November 15th, but during attorney review i discovered the current leases end Feb 28th in one unit and April 30th in the other two. The seller is also looking to close at the end of November, and is unwilling to help remove any of the tenants before closing. Also seems to me that the seller is unwilling to close any later So the way I see it is I have two options if I close at the end of November : 1. Close and attempt to remove the tenants through cash for keys. Not a bad idea but expensive and not guaranteed. 2. Close and wait to move in until the first lease is up and violate the 60 day occupancy requirement Any other possibilities I’m overlooking? Anybody else encounter or overcame this problem before? Thanks