Filling apartment before closing

[Samuel Wilder]

Hi, 

I'm a first time Owner-occupant and I will be closing on a Duplex on 10/28. The seller, my agent, and the sellers agent all encouraged me to list the empty unit and fill it prior to close. I have done so and I found a qualified applicant who can move in on 11/1. The unit is move-in ready so no rehab time needed but what do I do about the lease? I have been very open to the applicant about closing and potential delays (we're on track as of today). She has no issue with this and said she is flexible about move-in dates (she lives with a friend). Should I sign the lease and get it all set up with deposits/first months rent? I dont think I can because I dont actually own it yet. I'm in MN if that helps. 

Thanks, 

Sam 

[Deanna McCormick]

Risky, 

Would the seller agree to rent to her? If so have him do the lease, and transfer the lease to you at closing. So, if it doesn't close on time he's got renter till it does. If he doesn't want to do that don't push. don't mess up the closing documents, or incur more attorney fee's. 

If he doesn't like the idea personally I'd not risk it, and say tell applicant, the best I can do is give you first choice as soon as I close. If she can't risk it move on. 

 I recently sold a 5 plex and 6 plex all leases transferred to new owner, but all was disclosed early in sale and closing process so no hick-ups. My buyer wanted it all rented and was happy to make sure the current tenants stayed.

Get those questions figured out, good luck