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Old 10-12-2016, 09:42 PM
 
2 posts, read 963 times
Reputation: 10

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Hi all,

Buying a home to use as primary residence. The property I'm most interested in is an occupied investment property.

Do I have the right to evict this tenant once we've closed? Is that the seller's responsibility? What problems, protections (mine, seller's, tenant's), etc should I be aware of?

Thanks in advance!
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Old 10-15-2016, 09:29 PM
 
Location: US
19,820 posts, read 19,332,779 times
Reputation: 15665
As far as I know, you have to honor the existing lease. You might be able to bribe them with a cash bonus to move out early if you really want to move in asap. If you could simply rent out a home until it sells, everyone would be doing that. The reason most people don't is because most buyers want to be able to move in right away.
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Old 10-16-2016, 06:29 AM
 
Location: St Simons Island, GA
23,125 posts, read 36,362,431 times
Reputation: 15465
Quote:
Originally Posted by bmw335xi View Post
As far as I know, you have to honor the existing lease. You might be able to bribe them with a cash bonus to move out early if you really want to move in asap. If you could simply rent out a home until it sells, everyone would be doing that. The reason most people don't is because most buyers want to be able to move in right away.
This. The lease trumps new ownership. You can offer a buyout on the lease, but that's about it.
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Old 10-17-2016, 07:45 AM
 
222 posts, read 176,183 times
Reputation: 214
Quote:
Originally Posted by LovinDecatur View Post
This. The lease trumps new ownership. You can offer a buyout on the lease, but that's about it.
Many leases contain a clause that the lease can be terminated with 30 (or 60 day) notice if the property sells. The OP should check with the seller to see if the current lease allows it.
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