In some instances, you just have to wait for the lease to run out and give the tenant proper notice that the lease will not be renewed. If the tenant is on a month to month rental, you will have to give the appropriate notice to the tenant to move, usually 60 - 90 days. If, however, the tenant is covered by rent control laws, then in addition to the proper notice, you will have to pay a relocation fee when the tenant agrees to move out. This can be well over $10,000 in some areas, so make sure to factor that in when make your offer.
If you are a first time homebuyer, or you are planning to use FHA financing, then this home is not your best choice. You might not have the right to perform inspections or even have an appraiser enter the house (which will prevent you from getting financing). If you would like more specific information regarding the home, please feel free to contact me. I would be happy to help you gather the information you need to make an informed decision. If you are already working with an agent, then they should be able to get you the additional information you need. If this home does not work out for you, I am sure there are others that might. Inventory is a little low right now, however, patience and perseverance seems to pay off for all my buyers. Let me know if I can help and Dare to Dream.
Shel-lee Davis, CDPE, SFR, QSC
Your Real Estate Consultant for Life
RE/MAX Palos Verdes Realty
Depending on where the property is located in Los Angeles. If it is a single family home you may not have to pay a relocation fee as most single family homes aren't in rent control. If it's a regular sale perhaps they are selling it as an REO. If there is a valid lease in tact you won't be able to remove the tenants. Sometimes, if the numbers work it's best to write an offer subject to inspection.
I know a lot about tenant issues so if you need assistance, let me know.
The Carrabba Group
Keller Williams Hollywood Hills
Why wouldn't the seller give them 60-90 days to move out before closing? Also, its' hard to bid when you have to bid without seeing it and right now it's at my max asking price. I wonder if i can just lowball since a) i have no idea how much work the house needs but it says it has a lot of the original charm entact, and b)i have no idea how much it will cost to get these people out. how many? how long have they been there? are they elderly? are they disabled? Can i low ball with that many unknowns?
If you have any questions, I just purchased a home for myself in an identical situation,
#1 Listing and Selling Agent
Keller Williams Westside Realty
310-482-0173 - A few hours ago