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Updated about 7 years ago, 09/21/2017

User Stats

19
Posts
10
Votes
Eric Swint
Pro Member
  • Rental Property Investor
  • Toledo, OH
10
Votes |
19
Posts

Removing tenants to house hack a duplex

Eric Swint
Pro Member
  • Rental Property Investor
  • Toledo, OH
Posted

I have a situation where my offer on a property has been accepted, and my intention is to move into the property within 60 days to satisfy the FHA loan requirements. It is a duplex with both units currently rented. I just found out that the owner didn't have lease agreements in place, and once my offer was accepted they immediately put the tenants under new leases through next year. What are my options here? I offered cash for keys, but haven't heard anything back yet.

  • Eric Swint
  • User Stats

    143
    Posts
    187
    Votes
    Nolan M.
    • Rental Property Investor
    • Mesa, AZ
    187
    Votes |
    143
    Posts
    Nolan M.
    • Rental Property Investor
    • Mesa, AZ
    Replied

    Hmm, sellers agent should have known that you were moving in after the sale, considering you are using an FHA loan. I'd do what I could to have the seller solve this problem, they're the ones that caused it. The seller should be offering cash for keys, not you.

    User Stats

    2,356
    Posts
    1,074
    Votes
    Michele Fischer
    Pro Member
    • Rental Property Investor
    • Seattle, WA
    1,074
    Votes |
    2,356
    Posts
    Michele Fischer
    Pro Member
    • Rental Property Investor
    • Seattle, WA
    Replied

    Wow.  If the seller is behaving that way what else are they being unethical about?  I'd consider finding a different property, the seller is sabotaging you.

  • Michele Fischer
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