Breaking Lease to Satisfy FHA Loan

[Connor Murphy]

BP!

TL;DR using FHA is only option but getting tenants to leave is not guaranteed.

Planning to make an offer on a unicorn of a deal in South Florida but need some advice, struggling to find a similar situation on here in recent times. I am preapproved for an FHA loan for this duplex that I plan to live in for at least a few years, but there are some complications.

Issue is it is fully leased long term until next November (2022!) allegedly. I will not be able to see the lease agreements until my offer is accepted, which is a risk as is. Both tenants are leased long term for wildly below market rent so I can see them not being so keen on leaving in the next 2 months. The seller will not entertain any contingencies saying one unit must be vacant for the sale to go through (they are family, and family friends of seller). My only course of action so far is to try cash for keys but if that doesn't pan out, I am worried about the FHA 60 day policy. A longer shot would be comb through their leases and see if there are any violations but that opens a whole new can of worms.

Please share experiences, advice, info, anything helps !