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Updated over 6 years ago on . Most recent reply

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125
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Dan Cumberland
  • Real Estate Investor
  • Seattle, WA
25
Votes |
125
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Drug Bust the Morning of Closing (unbeknownst to me!)

Dan Cumberland
  • Real Estate Investor
  • Seattle, WA
Posted

Hi BP - 

I closed on a duplex this morning.  Both units are currently rented.  It's an out of state property and I closed remotely.

A few hours after signing all of the paperwork, I was told by the outgoing Property Manager that one of the units was raided in a drug bust this morning and that the tenant is now in jail.

I have a lot of questions about this:

1) Since this happened before signing and I wasn't notified, shouldn't the eviction be the outgoing owner and PM's responsibility?

2) What do?  I mean very practically, what happens in this situation?  

I was going to sign the paperwork with my new PM today, but this feels like a bad way to start.

Any insight is helpful.  Thank you!

Most Popular Reply

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6,878
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7,442
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Matthew Paul#2 Contractors Contributor
  • Severna Park, MD
7,442
Votes |
6,878
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Matthew Paul#2 Contractors Contributor
  • Severna Park, MD
Replied

The outgoing owner has cash in hand , its your problem now .  The tenant will post bail and be home in less than a week .  Sounds like the beginning of a fun ride 

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