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Investment Properties in Richmond : Real Estate Advice

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  • Home Buying32
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Activity 2
Mon Oct 26, 2015
Karen Peyton answered:
Consult an attorney in this matter. Without a copy of the lease agreement, it is impossible to know what you can and cannot do. In my opinion, a new lease containing the same terms and conditions (or minimally an addendum) should have been drawn when the new company became the responsible party, and again when you father became the new owner.

Again, you need an attorney. A real estate attorney.

Best of luck!

K.
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Tue May 29, 2012
Pacita Dimacali answered:
If you're buying a property with existing tenants, make sure you get copies of all the leases as part of your disclosure.

Another resource is go to City Hall's Housing department --- give address of the property and see if it's on their record as being approved (or even required) for Section 8 tenants. Some owners may have gotten low interest loans from the city in exchange for accommodating Section 8 tenants.

For Richmond CA see http://www.ci.richmond.ca.us/index.aspx?NID=86
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