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Updated over 6 years ago,
Suggestion for dealing with Tenant on potential buy deal
I've been working on getting 34 acres for a week or so now, pieces are starting to fall into place, other pieces are showing more detail. Here are some details that I'm not really sure how to press forward on.
Good news is that the price dropped 40k, a more realist number. Second I have found out that the owner is a 87 year old that lives a state away. The current tenant has been living and maintaining the property. I have traveled to the property to take some pictures of the outside. Today I was supposed to get to view at least one of the units. The tenant has been telling the sellers agent that he has some stuff stored in the empty duplex, and told the agent he needed some time to clear it out. When I told the seller agent it wasn't a big deal and I wanted to see the property anyways the truth came out. The current tenant has been renting out the other duplex with out the owners knowledge, on top of that the tenant has not been paying rent since the property went up for sale. The tenant is also telling other prospective buyers that he only pays 550 when he is supposed to be paying 750.
None of that really matters to me since the tenant is month to month and he would be gone once I took possession of the property. Now my thinking is that I need a subject to that this tenant is evicted or moved out before sale. Also I was wondering if anyone had ideas on how to work out a master lease with the seller in preparation of a sale on the property. Is that something that two real estate agents can hash out. At least that way I can take control and start getting the owner some form of payment on his land.