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Updated about 5 years ago on . Most recent reply

User Stats

46
Posts
6
Votes
Jonathan Wildy
  • Investor
  • Atchison, KS
6
Votes |
46
Posts

Buy and evict or require tenant removed prior to purchase?

Jonathan Wildy
  • Investor
  • Atchison, KS
Posted

I’m buying a 4-plex... maybe. It’s Friday and the seller now says the person not paying utilities is ‘supposed to be out Monday’ as they don’t pay rent, no deposit or other. They have said two were leaving ever since I tied up the 4-plex but now I learn this person may not leave?! The property appraisal is 95k and I’m buying at 92k. In my thought process, I won’t close until they are out and locks changed. With my manager present. The rental manager threw tenant in the building at cheap or no rent last minute and I have no idea why someone would be so stupid on a residential property that has no bearing on rented or un-rented units. In Kansas, I hear it can be 3-6 months to get the sherif to evict and courts to backup. I also said the owner can give a $6k credit at closing if they want to make it my problem & id take $2k to the tenant and ask them to sign a notice of immediate vacancy and they leave. Otherwise would anyone close on this kind of “deal”

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