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Updated almost 6 years ago,
House selling with long term tenants, but tenants have no lease
I came across a duplex that I am going to put an offer on and the brokers notes are as follows.
No sign. Tenant occupied, some notice needed. There are 2 washers and 2 dryers in basement, only one set stays with the house the other set is in the tenants. Roof has damage from the wind storm. Owner is taking care of it. Long time renters. Although rents could be much higher owner chose to not raise the rents because of the great tenants. There are no leases in place. Show downstairs first. Both units are the same. Any contracts subject to seeing 2nd floor unit welcome. Call lister before writing. Please make sure screen door off driveway is pushed closed so wind doesn't blow it open. Seller is selling "as is" and will not make any repairs. All inspections are for informational purposes only."
What would you do if you acquired a house that had tenants but no lease?