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Updated over 11 years ago, 09/14/2013
just closed yesterday! here is my issue. help!!
i closed on my first rental yesterday. the previous owner has lived in the house for 32 years. i ran title and agreed on settlement about two months ago. i need to mention the previous owner met a girl online and moved out of the house a year ago to nebraska and his 28 year old son has been at the house in phila. we corresponding via email and phone calls. everytime he comes back to the neighborhood he stays at his house with his son and all is well....
over the past two months the son kept saying he was moving to atlanta with a girl after his dad sold the house. his son kept hinting that he was entitled to some compensation considering his dad gave him the house when he moved out last year. (not really true. the house has always been in the fathers name. the son never wanted the house and planned to move away. his entitlement comes from the fact that his dad left the original deed at the house when he moved a year ago but they never transferred the property. the city and original deed still has the fathers name on title and even the sons deceased mother on the title. a death certificate was provided to prove she need not be at closing.
we closed yesterday. the father moved back to nebraska. i know the son. i have known him for years. he is kinda changing his tune with the situation about his options now. he says his job in atlanta fell through and he was promoted to a new position in philly but he cant leave tomorrow because he was expecting his father to give him a little bit from the proceeds but his father never did. he left in the morning before the son woke up and never addressed the issue.
so the son is at the house and he knows i need to rent it by november 1. there was always an informal agreement that the kid was gona move. i told him i need it to be vacant by mid october so i can work on it a week and show it last week in october and rent beginning november. he agrees that he can get out of there in a month but he has no place to go yet. and he is bitching about some credit issue not allowing him to get another spot. i told him his money isnt my concern and thats between him and his pop.
what are my options if he doesnt leave? i am the legal owner of the house. there is no lease agreement with the son and i or the son and the father. he needs a place to rent and he is looking to move out. would you consider renting to him? his rental budget is what i would ask but i dont know if i should do this??