Need advice on pulling out from an offer
Hi BP friends,
I am new to the REI game but have in the past 2 months or so have been trying put my money where my mouth is...finally.
I made an offer on a 4-plex last week but to my surprise the selling agent just found it convenient to mention today that the seller has "started the eviction process" on one of the tenants - rookie mistake I know I should have dug deeper and not assumed anything. Now my offer has not been accepted, but if this were you and since now we are dealing with after the fact what would you do? Should I immediately rescind my offer and tell the seller to fix that situation and get back to me after, reassess/resubmit the offer with the eviction factored in, stay put and inquire more about the eviction, or whatever else I'm not thinking of? Sorry if the answer might seem so obvious to you but thought it wouldn't hurt to ask and get some input.
Regards,
Luke
Most Popular Reply
It is unlikely they are evicting without a good reason. Let them do the work for you and get rid of a crappy tenant. Just make sure it is done prior to closing.