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Updated almost 3 years ago on .

User Stats

14
Posts
1
Votes
Arman Ali
1
Votes |
14
Posts

About to close - buyer contingencies

Arman Ali
Posted

Note: Wholesale transaction - ATL

I wrote a contingency in the purchase agreement that several thousands of dollars will be held in escrow until the current tenant has moved out, which will both agreed would be 15 calendar days post closing  

I later found out that this is not possible because notice to vacate was just given and current tenants have at least 60 days before a eviction process can be started. 

As a part of the notice, I saw the seller offered a lot of concessions such as a new property for the current tenants to move into, free rent, and $1k for moving sooner than later. I think this is a great deal for the current tenants but would like to know if it would be okay for me (the buyer) to contact the seller directly to see if his tenants are taking the offer. Is there anything illegal about reaching out to the seller directly and not communicating that with the wholeseller?