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Updated over 7 years ago on . Most recent reply

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205
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66
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Brad E.
  • Investor
  • Athens, GA
66
Votes |
205
Posts

How to get an estoppel agreement signed

Brad E.
  • Investor
  • Athens, GA
Posted
Hi all - I just put my first property (duplex) under contract yesterday. I'll be inheriting 2 tenants and from what I have read I need to get an estoppel agreement signed for both units. What I haven't been able to find is how to go about doing it. I have a form for them to fill out but how do I get it in front of them and get them to sign it? This seems very important because I've already had one surprise about when the leases are up. Also I'd love to hear any additional recommendations you might have for a new landlord inheriting tenants. Thanks for your help.

Most Popular Reply

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259
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293
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Kristina Heimstaedt
  • Real Estate Agent
  • Newport Beach, CA
293
Votes |
259
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Kristina Heimstaedt
  • Real Estate Agent
  • Newport Beach, CA
Replied

Typically estoppels are part of the disclosure period and provided by the seller and listing agent. The best thing you can do is to not remove contingencies until you've received estoppels as part of the disclosure process on the part of the seller. Be the buyer in the driver's seat. Take control of the escrow by making the seller disclose as much as possible, don't be afraid to ask questions and ask the seller and listing agent to clarify anything that seems fishy. 

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