Delivering property vacant

[Bharath Janakarajan]

Hi All,

I am in contract to buy a 4-unit building in NJ that currently has tenants. All of them are on lease. I was hoping to get the property vacant since I believe there is more upside. Isn't it not possible for seller to advice the tenants of the sale and give the tenants a 30 to 45 day notice to vacate. Can it be not be done if renters are on lease?

Also, if I acquire the tenants, is there anything I can do to protect myself from any possible future issues (non-payment, verbal promises made by the former owner etc).

Thanks in advance.

Bharath