Purchasing "Tenant Occupied" property as primary residence?

[Zach Crews]

I'm looking into purchasing a tenant occupied property as my primary residence and my realtor is concerned I won't be able to close on a "long term tenant" occupied property with my financing.

I will be using a 100% financing mortgage product as a first time homebuyer ideally with seller paid closing and will be house hacking once the purchase is complete. I do not have 20% to put down on this property.

What is the best way to proceed with the contract if the initial walkthrough tomorrow checks out? My plan is to put a clause in the closing contract that the current tenant must vacate before closing. Is there specific wording I should use? Or possibly a better way to proceed?

[John Underwood]

Your clauses can say pretty much anything you want.

What you said above will be fine about tenant vacating prior to closing. You will need to give the owner 30 days to give notice to the tenant of they are on a month to month lease. If a regular lease is in place the owner may need to wait till end of lease or offer cash for keys to tenant.