Buying a house with tenants in place

[Lolo Druff]

I'm thinking about submitting an offer on a property, where the selling agent is also the property manager. They said the tenants pay on time every month, and they have never had any issues. If we open escrow, what do I need to ask for regarding the tenants leases? Do I need to get an estoppel certificate?

[Gregory Schwartz]

@Theresa Harris is spot on. I've also asked for the current tenant's original application. How much do they make, credit score, rental history? If I'm buying an investment property and the current tenants dont meet my screening criteria I need to know that up front.

I usually assume that the current tenants either weren't screened or don't meet my criteria. Its better to be pleasantly supprised than utterly disappointed