Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 4 years ago on . Most recent reply

User Stats

192
Posts
100
Votes
Matt McGuire
  • Rental Property Investor
  • Montgomery, TX
100
Votes |
192
Posts

Under Contract - Current owner has no leases

Matt McGuire
  • Rental Property Investor
  • Montgomery, TX
Posted

I have a triplex under contract right now and 2 of the units are occupied. The current owner cannot provide leases for the current tenants. I asked for some kind of proof of payment and he didnt provid that either. I want to know what the rents are, and the lender needs the leases as well. I also sent an estoppel agreement to my agent and asked her to get the tenants to sign that. All of these are so far unsuccessful. 

My suspicion is that the tenants are not paying rent which is why he is selling. With the current pandemic and eviction restrictions, what advice do you have for this situation?

The property is in Texas but it is not local for me its about a 4 hour drive away. 

  • Matt McGuire
  • Most Popular Reply

    User Stats

    887
    Posts
    758
    Votes
    Jerel Ehlert
    • Attorney
    • Austin, TX
    758
    Votes |
    887
    Posts
    Jerel Ehlert
    • Attorney
    • Austin, TX
    Replied

    No leases, no proof of rents (rent rolls), no estoppel certificate....no deal.

  • Jerel Ehlert
  • Loading replies...