I am new to this forum and new to the investing world. I live on the first floor of the duplex that I own and rent out the second floor. I am currently searching for a new deal and have come across a potential property. It’s a single family house in need of renovation. I would like to make an offer on the house but I’m concerned as the property has a tenant that appears to be unwilling to vacate.
My question is - Is there a contingency clause that I can have my real estate agent put into the offer letter that will require the property to be vacant at the time of closing? As well as require the closing to be held within a specified time after an accepted offer?
My concern is that if I make an offer that the owner accepts, but the current tenant does not vacate the property, that I will not be able to back out of the contract and make another offer if another property comes up.
Thanks I’m advance for your help!