Tenant not moving before we close on property

[Christian Sifuentes]

I am purchasing a multi family in Carroll County closing in 3 weeks. 1st floor tenant was sent a certified letter to move out of property. What are my options if he doesn't move it Thanks

[Michael Boyer]

I am guessing (like Maria) that we must have a month to month situation here  (and the letter coming from the owner/seller, not you). The details are important (like if vacating is part of your deal or required, see below).

Each state can vary and each situation turns on its particular facts and circumstances. But in general terms for your "options", think about this. 

The owner/seller will have the most incentive here to make the deal go forward (getting a nice check, most likely) and may be most likely to remove any obstacles to closing.

And you have the most leverage before (not after) signing. 

After signing, the tenant (which I guess may be problematic or simply in the way of owner occupancy) could become your issue.

So if that was a contingency or term of your deal, you could simply wait to close until the unit is vacant (i.e.,  you will show up and sign when it is vacant, you have done a walk through, and the new locks are on, etc)...... 

Owner occupancy may also be part of your transaction and required for financing (2-4 unit etc). That could be a powerful leverage point.

From a business negotiation angle, you might let your agent or the seller--if a FSBO-- politely know the vacancy will expedite the closing and give you confidence to sign on the dotted line.

I would guess just the hint the holdover tenant could give you cold feet may prompt the owner/agent/manager etc to help the transaction along (no one gets paid until you close, for example).

This is not specific landlord tenant advice but simply an idea on the leverage points in any real estate transaction. Just as waiting till required repairs are done and reinspected, waiting till the tenant is gone to close could make this a problem for the seller to fix prior to closing. Seek professional guidance where appropriate.

Best of luck!