Buying A House With Tennants
what happens when you buy a house that already has tennants in it? like, how do you let them know you are the new owner? do you go there and introduce yourself as such? or are you introduced before the sale takes place?
Usually during the inspection period I get to know the tenants. Tell them with the agent or owner that you are trying to buy the property and get to know them. Ask what the rent is and the deposit is. Also ask their plans. You can tell them your plans too as far as a new lease when you own or continue on month to month. Their lease is still valid so you must honor it unless you buy a foreclosure or REO. Also see if there are any problems that need to be fixed in the house or apt. This is always the easiest answer and you may start there. Make sure they are not kin to the seller if you can and will move out or not pay as soon as you get the deed. Get copies of the lease from the seller and any other agreements. Hope this helps a bit. I am kind of rambling this AM
Good LUCK and Thank You
Hope this helps some
Ted Jr
rambling is good, you are helping me out when you ramble