Property Q&A in Arlington>Question Details

katfiles, Home Buyer in Arlington, TN

What is meant by "buyer assumes occupancy"?

Asked by katfiles, Arlington, TN Tue Jun 4, 2013

--
This question was asked from this property: http://www.trulia.com/property/3078711725-240-Julie-Cv-Arlin…

Help the community by answering this question:

Answers

1
This a foreclosure that has a renter in it and the it is requested that the tenant stay until the end of their lease. In other words, the bank doesn't want to be a landlord anymore. They want to sell, but there is a legally binding agreement with the bank and the tenant, so the bank wants the new owner to honor the lease.
0 votes Thank Flag Link Tue Jun 4, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer