Residential condo under contract, found existing tenant is an LLC

[Bryce Carroll]

After being under a buyer's contract for 2 weeks with intent to close next week, I received a copy of the lease for the existing tenant. The tenant is an LLC with no officer signatures on the contract, it's a 12 month lease that doesn't expire for 6 months. I'm concerned this is a dealbreaker. Questions are:

- I've paid for inspections, title docs, HOA docs, the appraisal, etc. Is there any way to get that money back? I re-read the signed counter offer and it states: "Buyer acknowledges lease in place with blah blah LLC". My agent told me that was the PM, not the tenant when I asked about it when signing the offer. I probably should have caught this, but this language isn't clear to me and I never would have thought an LLC would be acceptable as a residential tenant.

- What would this expose me to?  I've never seen this before.  Can I evict if they immediately stop paying (for 2 months because it's in CA)?  I assume they can destroy the place and I'll only have the deposit to fall back on?

- Any suggestions on what I could ask for to reduce risk and move forward?