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Updated 5 months ago on . Most recent reply

User Stats

161
Posts
47
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Jennifer Fernéz
  • Investor
  • Reading, PA
47
Votes |
161
Posts

Want to put an offer in today - Help!

Jennifer Fernéz
  • Investor
  • Reading, PA
Posted

Hi all. I want to buy a triplex in my area. Please help! I want to occupy one of the units so I can get an owner-occupied loan and only have to put down 3.5%. However, the seller's agent expressed 'All tenants want to stay'. How could I get one of them to agree to sign an agreement to vacate the property? Many investors are looking at the property so I was going to offer full price with $10,000 deposit.

Rent situation:

Unit 1 -- Current: $800/mo Projected $1200/mo (this is the one i want) - month to month

Unit 2 -- Current: $900/mo Projected $1000/mo - lease expires Jan 2025

Unit 3 -- Current: $800/mo Projected $1200/mo - lease expires Jan 2025

Any ideas? Please help!

Most Popular Reply

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6,872
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7,431
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Matthew Paul#2 Contractors Contributor
  • Severna Park, MD
7,431
Votes |
6,872
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Matthew Paul#2 Contractors Contributor
  • Severna Park, MD
Replied

Give them 30 days notice on the month to month , to leave 

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