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Updated over 9 years ago,
Apartment purchase delay, eviction, threatening tenant
I signed this morning on a multi-family property and later found that a tenant eviction was not as represented. The tenant is back from a mental health stay, threatening neighbors at 4 AM, etc. The tenant supposedly threatened to kill the current owner and burn the building down. I do not want to close until this is dealt with, as we went by to get a bid on a broken window today and ended up having several tenants stop us to let us know how concerned they were and that they were thinking about moving out. These were good people that I'd like to keep. My solution is to delay releasing 5% of funds for these 20 units until we have an agreed upon plan for resolution. Any ideas would be very, very welcome. Based on the sensitivity of this, I need to be a little bit careful with the details, but I'll attempt to answer any questions. Thank you in advance for any ideas.