All Forum Posts by: Thomas Addison

that is what I see based on my checking. I am seeking a DC attorney to help with my deal, which will likely be long if I move forward.

Michael, check out this article: https://www.washingtonpost.com...  From the article,

For example, if you live in a building with two to four units, all renters must express an interest in buying to trigger TOPA. If not everyone is interested or if 15 days elapse since the TOPA notice was given by the owner, any tenant can assert his right to buy his home, but he must do so within seven days thereafter.

The tenant (or tenants) have 90 days to negotiate a contract to buy, and if a contract is entered into, the buyer has another 90 days to go to closing. If a lending institution notifies the tenants in writing that it needs more time, the settlement can be extended for another 30 days.

The TOPA process involving buildings with more than five units is even more complex. After the tenants receive a TOPA notice, they have 45 days to form a tenant organization with the legal capacity to hold property. They then have 120 days to enter into a contract, and another 120 days to take title. Once again, if a lender needs more time, the landlord must extend the deadline in accordance with the lender’s estimate of how long it needs.

I am looking to purchase a multi family in Washington DC and need to understand the Tenant Opportunity to Purchase Act. Does anyone have experience they can share?