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Updated over 9 years ago on . Most recent reply
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buying a 3 family with tenants living in two units already
So I just purchased my first multi family (3 units) in Haverhill, MA. the first floor unit and second floor unit are already rented out for what the current owner stated is 1400 a piece and claims that the tenants always pay rent and all around good tenants. My question is if this owner lies about these tenants being good and responsible tenants, can I have a lawyer write something up that would hold him responsible. Also, what is he is not telling the truth about how much he is getting for rent? He may in fact be telling the truth, but im just thinking worst case scenario, and I end up inheriting awful tenants. It should be noted that these tenants are not under a lease, they are tenants at will. I already signed the first sales agreement, but have not had my lawyer do his thing yet. Is this something my lawyer will take care of before closing? Anyone who has had a similar experience would be of great assistance.
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Suggest you forget the attorney and get busy getting some basic education before you buy something. You have no idea what you are buying or why?
Bad way to start and usually costs you a lot of money and is a very expensive way to get educated.