House Hacking - Kicking out a Current Tenant

[Jordan Kalk]

Hi everyone! 

I am currently in the process of finding and purchasing a multi-unit property to house hack. I am focusing primarily on fourplexes and will purchase it with an FHA or FHA/203K loan (already pre-approved). Because I am purchasing with an FHA loan, I will have to occupy the residence within 60 days.

My question is: if the property is fully occupied, how do I go about kicking one of them out? 

Also, when a multi-family unit is purchased, is the existing contract typically still binding with the buyer? Any other tips/tricks that may be helpful to my scenario are also valued!

Thanks,

[Anthony Wick]

@Jordan Kalk

You will most likely need to honor all leases. Of any of them are month to month or a lease will be expiring soon it’s no big deal. However, you 100% want the seller to deliver a unit empty. Don’t take on a problem. Let them deal with it. Write in the purchasing agreement that “such and such unit

Must be empty at the time of close”. You’ll have to ask for the leases to determine which unit that may be. Some properties you may not be able to owner occupy.