Tenant Still in Property at Closing
My name is Cherida Murphy and I am newbie investor looking to close on my first deal. I've started out looking to flip distressed homes in the DFW. If you're familiar with Dallas, then you know how competitive this market is here. With that said, I have submitted multiple offers and been out bid every time. I finally got an offer accepted on a SFH at $100k with an ARV of $185k. However, I didn't have a good feeling about closing the deal because when my realtor and I went to look at the property, there were tenants still living in the property. We went to look at the home while the tenants were there and there were absolutely no signs of moving. No boxes and their stuff was still everywhere. I tried to negotiate the contract with the realtor that the tenant had to be out of the home by closing and the realtor (also the seller) wanted to back out of the deal while we were in the option period. Given that this property was intended on being a flip, I'm looking for any advice in handling tenants that are still living in the property at the time of offer. What are my options? If I close on the deal with the tenants still in the home, am I responsible for eviction if the tenants do not vacate?
Thanks!