Mary Tanner, Home Buyer in 92301

Renter occupied short sale

Asked by Mary Tanner, 92301 Fri Jun 8, 2012

We are buying a short sell home that has renters occupying it. I am worried the renters are not going to move out by the time we take possession of the home and it will become our problem to try to get them out. Our contract says they have three days to get out after the sale closes. The bank has just approved our offer, but we are not in escrow yet. Is there something we could add to the contract to protect ourselves and would we be able to add it to the contract at this point? Thanks

Help the community by answering this question:


YES! You cant ADD Tenants to Move Out Prior to the close of Escrow. Once property is transfered to the new owner (YOU) There is no contract of rent between you nor tenant, therefore there is no possible way you can ask them to move out.
The Contract written now is between You and Seller not Tenant. Once you become the new Owner, the seller has no more authority to get Tenants Out.
0 votes Thank Flag Link Fri Jun 8, 2012
Eviction Process would be a whole different story. Tenants may have reasons, have been lied to, paid rent in advance, paid their deposit to which they may want to live from, numerous things may happen. OR They may move out on time. As a Real Estate Broker, I would never put my clients through such Jeopardized transaction.
Good Luck!
Flag Fri Jun 8, 2012
I would immediately start an eviction that way you can make sure that you don't have to depend on them getting out. I have had plenty of experience with tenants as well as buying property with tenants in it. And they never seem to want to be out as promised. The other thing you could do is offer them some money to be out by a certain date before close of escrow and that sometimes works as well
0 votes Thank Flag Link Fri Jun 8, 2012
I would not agree to the contract as you describe it - I would require possession at settlement. If the tenants are there on settlement day I wouldn't buy it. No way. No how.
0 votes Thank Flag Link Fri Jun 8, 2012
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