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Update:
Firstly, few clarifications:
1. No lease with the tenant, just M/M payments for all these years.
2. Tenant is there for last 20+ years having reasonable relationship with the owner, but not a big love or anything.
3. Tenant does not look like a person who cannot afford the move out. It is not convenient for him as he can walk to his work two blocks away.
4. The rent is on the lower side. Considering that the town having a good school system and VERY convenient commute to NYC the rent should be 300-400 more than what it is. Finding something so he can walk to his work is impossible.
5. I previously had a chat with the tenant. I saw him 3 times - first at first property seeing, second time at the inspection and 3rd time 2 weeks ago. Last time we had the chat and he sounded reasonable. He needed time to set things up and he needed more time. Even though he knew that the building was for sale, and he knew that we were first to look at and whose offer was accepted same day. He also knew that we scheduled the inspection right after and closed the deal pretty soon. And we set the day of closing 2 months after offer was accepted so he has his time to leave.
6. Note on a side - the tenant gave us hard time right at the beginning. At the first seeing he didn’t want to open the door pretending that he is not home. Second time at the inspection time he did the same. Both times where the owner came with the second key (45 min wait) he all of a sudden popped out and said that he was waiting for us. I was like what??. General feeling was that he was not the easiest guy on our planet and we wanted him out.
7. We just know that pizza/beer will not work. The only chat we had with him started from him: "There is no way I will be out by Aug. 30th."
At this point we are pushing for closing date to reschedule. Our rate lock expires 7/09, we'll see.
1. Tenant found another place and is moving out Sept 29th. weeheeee
2. Our locked rate was about to expire and we had to pay $749 to have it extended for 30 days.
3. We contacted the seller to make him pay the fee, but it was no no. So we hadn't that much of a choice and we paid it on our own. Seller said they are ready to close anytime since the tenant is moving out. Oh yeah, let;s wait.
4. New closing date is scheduled Oct 1st. Hopefully no more surprises, as we will have our newborn coming Nov 1st and my wife already barely walks.
Thank you all for the input. I will confirm after closing.
Where I live, that level of mortgage payment ($1700 a month or so) is low income housing. Such tenants cannot afford huge deposits, and so they are not customary here.
Wow, my mortgage is less than that for an almost mcmansion in NC!
Ive never heard of 1700 being low income housing before haha
1. Tenant found another place and is moving out Sept 29th. weeheeee
2. Our locked rate was about to expire and we had to pay $749 to have it extended for 30 days.
3. We contacted the seller to make him pay the fee, but it was no no. So we hadn't that much of a choice and we paid it on our own. Seller said they are ready to close anytime since the tenant is moving out. Oh yeah, let;s wait.
4. New closing date is scheduled Oct 1st. Hopefully no more surprises, as we will have our newborn coming Nov 1st and my wife already barely walks.
Thank you all for the input. I will confirm after closing.
Sometimes ya gotta do what ya gotta do. Hope it works out.
Wow. I hope everything worked out OK. I found this post because I have a similar situation but worse. AFTER closing I'm informed that the tenant is still in the house even though I have to move-in this week. I'm buying from 2000 miles away so I wasn't at the walk-through, although this also means I never signed anything saying the walk-through was "satisfactory".
I'm probably going to just show up and move in because I have no other option. State law requires tenant gets 90-day notice so she'll have a housemate for three months! She certainly can't evict me ... I own the place. But I can't evict her for 90 days.
That will be uncomfortable but probably no other options. My bigger question is who to sue and what my "damages" are if I'm not losing money per se just the ability to live alone in my home.
Wow. I hope everything worked out OK. I found this post because I have a similar situation but worse. AFTER closing I'm informed that the tenant is still in the house even though I have to move-in this week. I'm buying from 2000 miles away so I wasn't at the walk-through, although this also means I never signed anything saying the walk-through was "satisfactory".
I'm probably going to just show up and move in because I have no other option. State law requires tenant gets 90-day notice so she'll have a housemate for three months! She certainly can't evict me ... I own the place. But I can't evict her for 90 days.
That will be uncomfortable but probably no other options. My bigger question is who to sue and what my "damages" are if I'm not losing money per se just the ability to live alone in my home.
You’re screwed. If you encroach on the tenant's space that is under a valid lease, you’re asking for hell.
Put your stuff in storage and find an Airbnb for 3 months.
Honestly, if you pulled that crap with me, I wouldn’t protest, you’d just wake up one night duct taped into your bed while I beat the **** out of you with bags of rice and canes - all with an alibi.
I'm probably going to just show up and move in because I have no other option. State law requires tenant gets 90-day notice so she'll have a housemate for three months! She certainly can't evict me ... I own the place. But I can't evict her for 90 days.
That will be uncomfortable but probably no other options. My bigger question is who to sue and what my "damages" are if I'm not losing money per se just the ability to live alone in my home.
DO NOT MOVE IN ON THE TENANT UNDER A LEASE!!!!!!!!
You send them the required legal notice.
Put your stuff in storage.
Rent a place until they vacate.
Move in only after they have vacated.
It was your own fault to close on a property that had a tenant without verifying the property was vacant. Don't compound your screw-up with another!
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and my wife already barely walks.
