Inheriting tenant with a pitbull; can't get insurance

[Brad E.]

Hey BP -

Ive got an insurance dilemma I'm looking for advice on. I'm in contract on a property that has existing tenants. The lease clearly states no pets. However, when I went to view the property they had 2 dogs, one of which was a pit bull terrier.

Called my insurance for a quote and disclosed the dog. They said no they cant write insurance on it, and said likely no insurer will. I'm not going to be able to get financed without insurance.

Not really sure what to do here. The tenant is in clear violation of the lease, and unfortunately they have a dog which will prevent me from getting insurance.

Any tips on how to handle this? My due diligence has 3 more days before it expires.

I'd rather not bring the merits of this dog breed into the conversation. Just looking for feedback on how to deal with this situation.

Thanks.

[Eric Mayer]

If the pit bull conveys, no deal. That’s all there is to it for me personally. It would be too hard to get insurance without telling a lie. The owner should rectify though as it’s not in the lease. He will try hard when you tell him you are walking away as he knows the next investor will have the same issue.