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Updated over 7 years ago on . Most recent reply

User Stats

26
Posts
13
Votes
Kenny Dahill
  • Investor
  • Tempe, AZ
13
Votes |
26
Posts

Closing - Current Owners Summoned

Kenny Dahill
  • Investor
  • Tempe, AZ
Posted

I'm supposed to close today on 2 townhouses, already 2 weeks late in closing.  There were some document issues with the family changing trusts a few years back.

Anyways, long story short the current owners had to evict both set of tenants.  My contract to them was contingent on it being vacant, because I intend to remodel.  Due to this the third unit doesn't close for another few weeks since they had to give them their 1-month notice.  Prior to my offer the owners were already going to evict the tenants and were actually in the process.

Today I showed up to one of the properties and there's a legal document summoning the owners to court.  I'm asking my escrow agent to hold off on closing until I've received more info from the owners. Am I indemnified from previous evicted tenants?  I don't know how they handled the eviction, just know they both were several months behind.  Is there any worry to close; should I hold off or is it safe to close?

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