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Updated almost 7 years ago,

User Stats

85
Posts
34
Votes
Joel Brown
  • Investor
  • Grangeville, ID
34
Votes |
85
Posts

Lease Back potential problems

Joel Brown
  • Investor
  • Grangeville, ID
Posted
I closed on a house in Southern Utah that was recorded 11 days ago. It was in pre foreclosure so I helped the seller keep their equity by purchasing before being foreclosed. My mortgage company took its own sweet time and the seller lost their lined up rental to someone else. I had given her 14 days in the selling contract before I take possession of the property, as I knew she would need money for a deposit that she did not have. She had likely $50-60k now because of selling the house to me. She has a dog and a boyfriend (will poor credit and other issues) that make it hard for her to find a rental. I’m having a hard time kicking her out especially around Christmas. I’m contemplating having her give a security deposit and allowing her up to 4 weeks as a week to week tenant and requiring her to get renters insurance, pay up front, and give the dog up to be able to find a rental. She still has marginal credit but the dog and boyfriend and dragging her rental search nowhere. What are the potholes I could hit with this option? If I limit her to 28 days does that make eviction/ trespassing easier to get her out if it comes to that in contrast to a month /30 days? Utah I understand had laws leaning toward the landlord. Any suggestions?

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