All Forum Posts by: Mariah G.

Hi everyone! I'm under contract for a duplex and I have about 10 days left in the due dilligence period. The inspection is in 7 days and I've requested an estoppel agreement via my agent in the meantime. My agent doesn't seem to be familiar with working with estoppel agreements, so I'm hoping I could get some insight from the BP community.

Here's some quick background info..one of the units is vacant but the other unit (3bd 1ba) has 3 tenants that have been living in there for over 3 years and when I did the initial walkthrough the tenants look very....settled in (they are a bit messy and I'll make a separate post about that). There has never been any issues with the tenant's paying rent on time or being messy outside the unit. 

A few reasons I want to request the estoppel agreement is because the copy of the lease provided to me:

- lists the wrong property address (probably was a simple mistake since it's one number off)

- lists language such as "if any damage should occur while tenant is under the lease a necessary amount will be deducted from the security deposit", but there is no mention of a security deposit amount on the lease

- the lease only has one tenant's name on it. I saw two other tenant's names on the copy of the rental application I was provided but I don't have any way of confirming those two names are the same names of the tenants that are currently living in the unity 

Here are are my questions:

- If I didn't list any mention of the estoppel agreement in the contract that doesn't mean I can't ask the seller to provide this to the tenants and sign, but it does mean the seller can refuse. Is that correct?

- Do you typically have a lawyer review and estoppel agreement or is a general one pulled from online applicable? I found one that I slightly edited and I feel comfortable with it.

Any feedback is greatly appreciated!

Thank you for this perspective, Jonathan. Very helpful!

(New Orleans) Hi everyone, looking to purchase my first rental property in the next 6 months likely in New Orleans or Jefferson Parish. I just started looking seriously at buying in the last few months and am mainly focusing on small multi-family.

There's a double I found and started analyzing the numbers on. I planned a walk through but when we went to go inside the keys weren't in the lockbox. A couple days later  the seller agent's showing service called my agent to ask if they had the keys. Later that day my agent was informed the seller was taking the house off the market (after ~65 days).

When I did pass by the house I noticed it was being updated (no one was there) but that it still needed some work as I had expected.

I've been listening to the Bigger Pockets podcasts and don't believe I've come across an episode that addressed this situation yet. Should I look into it?Maybe they are planning to rent it out again or it is being sold privately and does this mean my agent was not informed correctly? Not tied to this in any way but I was looking forward to at least walking through it. Any thoughts on this would be appreciated, thanks!