Buying Multi-Family - Negotiating a Home with Existing Tenant

[Dennis D.]

I would like to make an offer for a multi-family home in Queens, NY. The home has one tenant that is not cooperating and is being evicted.

How much lower can I go on the offer price due to the tenant? What are some strategies to make this more favorable? I've read that I can potentially ask the seller to pay the eviction fees, renovation costs, etc. until the tenant leaves.

Other strategies I've read is to have the seller pay the lost rental income until the tenant leaves.

Anything other ideas? Thanks!

[Bill B.]

As a buyer I’d wait until that tenant is out of his unit, especially in NY or CA. As a seller I’d want you to put up 2-3 months worth of rent as a non-refundable deposit. (So you don’t get me to evict the tenant then walk away or try to re-trade the price.)