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How to transition existing tenant when buying home
Anonymous2 views3 answers
I am buying a new home and did not expect to have existing renter stay. We were forced into letting him stay for 90 days after we get out new home. This happened because we needed an extension and the seller only agreed to the extension if we agreed to let the renter stay in for 90 days.
The key to dealing with a situation like this is communication. You should be talking to the tenants to make sure that they will be leaving the property as scheduled, and negotiating with them, if necessary. In the long run that will probably be the nose time and cost effective method for removing them from the property. You should figure that forcing them out through the court system will take a minimum of 6 weeks, possibly longer
You could also have your attorney for the closing draft a paragraph the tenant signs that they agree x date 90 days from now they vacate, that rent is due to you monthly now once you take possession, etc. Of course they elect not to follow any of this and make you go to court to evict which will take weeks as well.
