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Updated about 4 years ago on . Most recent reply

Advice? Inherited tenant
Having a bit of a last minute nightmare due to my experience. I bought a duplex for my first home with intent to rent out one side so I can start a small cash flow.
I (somehow) more inexperienced than I am now and was trusting my lawyers/agents to help ensure things were all set when I signed the initial offer. Definitely mistake #1, which i started learning as I was attending webinars.
Initially the only tenant was to not stay on the property after I purchased. I found out about 2 weeks ago she was not budging, and I got wind I should be planning to inherit her.
Problem is, she was a relative and was only paying 500 a month. I started asking my realtor for the lease, etc, and said I need to review it.
Fast forward a few days, still no lease but I started learning tidbits about her stay. I was told I would get her security deposit . I asked what it was etc, found out 2 days ago she didnt pay a security deposit since she was family.
same 2 days ago I called my lawyer and he said I will need to try to get her to sign my lease, and file an eviction letter for 60 days if she doesnt. I triple checked saying, even with covid?
Now here I am having researched more and found out about the estoppel agreement, how inherited tenants work and am more concerned. I still have no copy of her lease. Closing is today at 4.
Giving me a break on all my mistakes aside, what would you do at this point?
First home, only 25 and working off my own savings.
Most Popular Reply

Definitely push back the closing until you have accurate information in hand about the tenant and the lease. I see red flags all over this, and personally I would just walk away.