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Updated about 7 years ago,
Buying a Property with Renters with back rent
Has anyone had any experience with buying property with renters that need to be evicted? I'm look at going under contract on a fourplex that is 100% occupied. Two of the renters have back rent. I was wondering how to word the contract so that assuming the renters back rents and security deposits?
My though would be to give them their security deposit back and forgive their debt if they leave. Otherwise I'd just go through the normal eviction process.