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Updated over 4 years ago on . Most recent reply

User Stats

145
Posts
42
Votes
Frank Agyeman-Duah
  • Real Estate Agent
  • Dallas, TX
42
Votes |
145
Posts

No rent roll and no lease agreements

Frank Agyeman-Duah
  • Real Estate Agent
  • Dallas, TX
Posted

I have agreed with a seller on an offer price for a triplex which will be my first REI. According to the seller's agent, the first tenant has lived there for 16 years, second tenant 6 years and third tenant 6 months. When i requested to see the leases and the rent roll i was told seller has no such records but receives the total rent in his account every month. Need advise on this before i close the deal.

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