Buying a FNM property with a tenant
I've put in an offer for a 4plex that is owned by Fannie Mae. One unit still has a tenant, who I've spoken to when I was viewing the property. The offer was written up with the condition that the existing tenant must fill in a background check and sign a lease or be given the required 60 days to vacate.
The listing broker came back and said it's a FNM rule that buyers can't have any contact with tenants until after closing including any knowledge about an existing lease or rent terms. I told the listing broker that means they will have evict the tenant as FNM's expense.
It would have been nice to have at least some rent coming in while the other units are rehabbed and rented out.
I was wondering if anybody else has come across this?