Buying a Duplex to Occupy 1 Unit, BUT both Units have tenants

[Nick DiTommaso]

I have been actively seeking to purchasing my first home, and I am specifically looking at duplexes to live in one unit and rent the second unit. I came across a great looking duplex, in a great town near me. The price is a little above my liking but has been on the market for 7 months so I think I have some room to negotiate, but the only concern is that BOTH of the units are tenant occupied. 

I did some research and found the seller's info and was looking to contact him, most likely by mail, to speak about the lease agreements he has with his tenants. 

Has anyone experiences a situations like this OR know how to pursue this type of situation? I have never come across this type of scenario when learning about rental properties.  My guess would be to wait until one of the tenant's lease has ended to obtain a unit if I was to purchase this duplex. 

Thanks!

-Nick

[Andrew Postell]

@Nick DiTommaso if you need financing to purchase this property the lender will require you to move into the property within 60 days of purchasing the home.  If this is the route you need to go in then do ask the seller when the leases are up.  I would also recommend asking about the tenant's likelihood to move out and then consult your state laws on forcing a tenant out.  Even if the tenant's lease does end certain states will require an automatic renewal of the lease as long as they are in good standing.  Hope this information helps.  Thanks!