Copies of leases after acceptance of offer?

[David Jesse]

I'm buying my first rental property. It's the first house I'm buying. It's a duplex which has two tenants in it already.

The agent says I will get the lease agreements after the seller accepts the offer and if I don't agree with it, there is a contingency. In the contingency it says

"Seller to provide copies of all leases within 3 days of acceptance."

Is that enough for me to back out of the offer if I don't like something in the leases? or it should say something along

"Seller to provide copies of all leases within 3 days of acceptance, and the buyer would have to agree/accept the terms of the leases"

[Kenneth Garrett]

@David Jesse

You can use your due diligence period to review the leases and any other documents.  I use the attorney approval and inspection contingency periods to evaluate the documents.  If I run short of time request additional time.  Should not be a problem.  I also submit a freedom of information request to the city.  You can request the history of permits, water billing, outstanding water bills, code violations, fines and or liens owed, zoning information and plat of survey of the property and it’s all free up to 50 pages In my area.  I have them email me the results.

Good Luck.