In the HUD LBP addendum, there's an inspection contingency that reads:The Purchaser has a contingency period that expires fifteen (15) calendar days from the date the contract is accepted by HUD to conduct at the Purchaser's expense, an independent lead-based paint inspection visual assessment for deteriorated paint or risk assessment. 

Would you advise to have the tenants sign new leases or wait until the existing leases expire?

Buyer represents to Seller, as of the Date of Offer, that Buyer has sufficient funds available to satisfy the provisions of this subparagraph.

Property was under contract within 6 days of being on the market, closed in approximately 30 days from acceptance date.

Burrell I think you'll have an issue if you call it a "deposit".Maybe have them sign an "Option to Lease", include all the terms of your lease, and the start date.Then say if he doesn't pay on date X, and take possession on date Y, the option is voided. 

PM me with a few good dates and times and we will get together!

In most conventional purchases closed with a title company or attorney, it would typically be the case that all taxes are paid by the seller up to the date of closing.

. _________________________________________________________________________________________________- An opening date is tentatively set for sometime between the next six to eight weeks, pending ongoing city ordinance approvals required during buildout. _________________________________________________________________________________________________- P.S.

@William Allen Once you have a date, put it on the Event forum.

The standard forms you find in books may not be up to date and may not have everything the state requires.