Removing a tenant in place on a flipped property

[Account Closed]

Hi all,

I am looking into purchasing an SFR to flip in Sacramento, California and there is a tenant in place. The tenant is currently on a month to month lease. The property is off market, and the seller states that he has notified the tenants that he will be selling, and they will be cooperative. This promise doesn't extend beyond words, though.

When pulling hard money @ a 6 month balloon, how would you recommend I deal with this issue? It seems like it could really hold us up. I was thinking of inserting a contract contingency, but this would undermine the value of the fast close. It seems like the most prudent thing to do...

Please weigh in BP! 

[Thomas S.]

Why would you not insist on vacant closing. This would not effect a fast closing it would simply kill the deal and the risk is in the hands of the seller. If the seller is not prepared to agree I would be extremely leary and move on to the next good deal.