Tenant rents as part of sweet seller package

[Kapu Mamiya]

Hello Wise BP community,

I have checked the rent comps (Rentrange, city-data, Zillow, etc) in the area and the numbers do not add up as suggested by the realtor.  The realtor says the seller has "potential" renters who will sign a 1 year lease at a price higher than what I am seeing  with the rent comps.  The question I have is:

Once the tenants sign a 1 year contract and then I purchase the home.  Are the tenants still obligated to the terms of their rental contract with the seller and I can take over the tenant lease to make my numbers work?  

Two side notes:  

A)Realtor is representing both seller and buyer.

B) I have a feasibility clause in the contract that loosely states: if the numbers do not work, I can cancel the contract.

10Q in advance for your advice,

Km

[Jason Hartley]

It depends if the lease has an assignment clause in it.  Make sure it does so the previous owner can assign the lease to you.  Then it should still be binding.