Notify whomever you have representing you (attorney/closing agent) about the delay in closing until the occupants have moved out and you can verify that the property is vacant, then as soon as you close, change the locks

Something to the effect of: "if tenant is (X amount of days) late with payment of rent, the locks will be changed and the landlord has the right to remove tenant's belongings from the dwelling whether it in a common area, or outside.

Although you said they'd like to stay as long as possible, I feel like it would lock-in their decision.

@Brian Whelan I'm trying to lock down a duplex for a buy and hold at the moment, and I am in a similar position where the seller wants cash to put towards other investments opportunities in a different area.

I would keep them on a month to month so they are free to move with 30 days notice and you are also able to raise rent with notice or terminate their tenancy rather than being locked in with a lease.

If she took care of her tenants, even in the slightest bit, I would've signed my lease, I wouldn't be moving, and I'd be locked in just like she wants.

Hi @Wendy Lovejoy maybe you should try an pay them off to leave but make sure you get them in a cab an change the locks as soon as possible an maybe save yourself some headechs because the police wont be much help ive seen it happened here in Brooklyn.best of luck to you.

This is why I'd advise renting or living with family (if you can stand it) for at least a year to get familiar, narrow down your search, and find yourself a great deal ... you should be looking the whole time, and if you lock up a great deal sooner then great, but just be prepared for it to take that long and don't settle for a mediocre deal to get it done faster.

Even at today's rates locking in a 30 year fixed rate loan is hard to pass up.As you pointed out, there are costs and benefits on both sides so it's not exactly a unilaterally easy call to make.

Also, my total closing costs are about $12,200, but I've already gone ahead and paid $550 for the appraisal and to lock in my rate with the mortgage company.