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Updated about 10 years ago on . Most recent reply

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88
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19
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Patrick Donovan
  • Investor
  • Dubuque, IA
19
Votes |
88
Posts

Buying duplex and seller wants to place tenant before closing?

Patrick Donovan
  • Investor
  • Dubuque, IA
Posted

I am purchasing a duplex and the seller contacted me and asked what I thought about him placing a tenant before closing. I know that it is easier to have a tenant In place right away but I will be living in the other half of the duplex and want to know who I am dealing with. I have an application and lease that I am sure he does not have (I have seen his lease agreement before). Its not a horrible lease agreement but I have a lot more in mine. I suggested that he do a month to month since closing will be early in April. Is this the right way to go about this or what other options do I have?

Most Popular Reply

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1,737
Posts
1,508
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Jeff Rabinowitz
  • Investor/Landlord
  • Farmington Hills, MI
1,508
Votes |
1,737
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Jeff Rabinowitz
  • Investor/Landlord
  • Farmington Hills, MI
Replied

This would concern me greatly. The seller only needs to get the first month rent and he benefits. You will have to deal with the aftermath. I would demand that the tenant pass your screening criteria before placement. If the seller places a tenant that you do not approve of I would walk away from the purchase. 

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