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Updated almost 9 years ago,
Should I try to close with the current tenant still present?
Hey BP! I've recently had an offer accepted on a 2 family in Albany NY. The first floor unit (where we'll live) is currently vacant but there is a tenant upstairs. He has been there for ~8 years and seems to have a good relationship with the seller, seems to be a very nice guy, etc...
Both units need updating, and I'd like to do most of the work downstairs before we move in if possible. I need to be out of my current apartment by May 30. My original plan was to write into the contract that the house must be vacant before we close, but that is going to push our closing back to mid/end of May because of the current tenant.
I'm thinking I could close earlier if I'm able to work up a deal with the tenant to still allow him to stay until the end of May. That would give me much more time to get in and do my renovations downstairs before my current living situation ends.
What do you think?