2006-07-23 04:49:12 · 11 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
The tennants have been renting this home temporarily until their home is completed. (they sold their home before completion of the new home.) The home I'm purchasing was on the market for almost 3 months - and were given notice that their lease was terminated shortly after acceptance of my offer. (terminaton done w/in the parmeters of their lease) I close in just over a week, and the tennants haven't made arrangements to leave - but instead have been concocting "issues" to put doubt in my mind and get me to "walk away" so they can stay longer. Also, the Seller AND their tennants are all realtors.
2006-07-23 05:16:18 · update #1
I wouldn't close until they are gone. Yes, you have theoretical legal rights, etcetera, but you can't get blood from a stone (deadbeat tenants), and they have rights that they are going to have leverage to see enforced to the last iota.
Your agent should have written the contract forcing the owner to get them out in time for closing. If the owner can't deliver on that obligation, there should have been a stated penalty in the purchase contract, or a clause that gives you the right to cancel plus liquidated damages. This is part of what Buyer's Agents are FOR. Never accept a dual agency or try to do business without experienced help on your side.
If there's a contingency clause in your contract that you can use to get out, I'd exercise it. This has all the earmarks of a situation that you're going to be telling ugly stories about for the rest of your life.
2006-07-23 05:16:45 · answer #1 · answered by Searchlight Crusade 5 · 1⤊ 0⤋
If they are under lease, they may have the right to stay until the lease expires. In some states, the seller would be required to pay a "relocation fee" to the tenants, though this still would not guarantee that the tenants would leave. The final recourse would be to forcibly evict the tenants, and then hope they will not trash the place on the way out.
2006-07-23 04:54:24 · answer #2 · answered by lamoviemaven 3 · 0⤊ 0⤋
Until you own the house, you can't do anything. Once you own the house, if the people are still there, you become a landlord. You will have to follow the landlord/tenant laws in your state and evict the people.
Your only other option is to refuse to close on the home until the tenants have moved out. This will force the current owner to evict the people. The problem with this is that it may mean you can't close for a month or two.
Good luck.
2006-07-23 17:41:00 · answer #3 · answered by Mama Pastafarian 7 · 0⤊ 0⤋
They don't have to leave PRIOR, but they do have to be out as of the date of close unless you have a rent back agreement with the seller.
I would pitch a fit with mine AND the seller's realtor or with the seller's themselves. I would refuse to close escrow (double check .. I'm betting they WANT that closing money for something else!) until you have assurances that they are planning to be out as of the close of escrow OR that the seller will pay you rent at PITI (Principal, Interest, Taxes and Insurance and HOA if paid) at a per diem amount until they are. Insist on a deposit to escrow to cover 15 - 30 days of PITI.
If that doesn't motivate them, let them know there are courts available ...
Good luck :)
2006-07-23 04:56:38 · answer #4 · answered by Christine 3 · 0⤊ 0⤋
The occupants pay rent on your property until they vacate. Of course, the risk is they may leave the property with considerable damage and you will have to continue to pay for a place to live elsewhere. The most advantageous arrangement is to have your attorney get them out before settlement.
2006-07-23 04:59:46 · answer #5 · answered by jd 6 · 0⤊ 0⤋
Make them the sellers problem. Tell them that you have loan/cash in hand, but will not go to the settlement table until that house is empty and everything is in good shape. You are entitled to a full walkthrough before settlement, so you will know if they are gone.
You could take ownership, evict, and then they trash your place before you get to move in.
2006-07-23 05:07:13 · answer #6 · answered by SuzHall73 2 · 0⤊ 0⤋
I am buying a house right now and if they are not out by the time you close on your house you can charge them rent. And if they don't pay and still don't leave you have to take them to court and evict them you can charge them by the day ,week ,or how ever you want good luck.
2006-07-23 04:54:01 · answer #7 · answered by Rondi 4 · 0⤊ 0⤋
get a lawyer or a realator involved, the tennants maybe the reason the owner is selling....
the tennents may have a valid rental lease.
there are many things that it could be, get a lawyer to be safe
2006-07-23 04:54:48 · answer #8 · answered by mhp_wizo_93_418 7 · 0⤊ 0⤋
Why buy aggravation...go get yourself another property to buy. One of Your contingency should be to have the property vacant and ready for you to move before closing the deal. This entire scenario dont sound good...
2006-07-23 06:29:23 · answer #9 · answered by kalamity 3 · 0⤊ 0⤋
You can do nothing until you own the property. Once you own it and they still will not leave you can evict.
2006-07-23 05:10:41 · answer #10 · answered by Garage21 1 · 0⤊ 0⤋