About to Close on a multifamily and tenant hasn’t left

[Jacob Stephen]

I’m closing on a multifamily Home next week and the seller promised to deliver the building vacant. The sellers broker called me today and said one of the tenants hasn’t left yet and asked me if I️ want him as a tenant. I️ do not. I️ proposed the following: the seller puts 2 years worth of current rent in escrow. Every month the tenant doesn’t leave, a months rent is transferred to me. Is this legal? Are there better options? I’m also considering asking for legal fees in escrow in case in the tenant becomes my headache. The property is in NYC and tenants can stay up to 2 years rent free due to our court system.

[Ibrahim Hughes]

due to your court system, I would not purchase the property until it became absolutely vacant.