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Updated about 5 years ago on . Most recent reply

Andrew Duclos's profile image
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Andrew Duclos
  • from Boston, MA
  • Member since Dec 27, 2019
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Andrew Duclos
  • from Boston, MA
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Andrew Duclos
  • Boston, MA
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Buying & Selling Real Estate

FHA with existing tenants on a lease

Andrew Duclos
  • Boston, MA
Posted

What is the process if you're looking to buy your first multi unit rental property using the FHA loan but there are existing tenants on a lease? I know with the FHA I would need to live at the property for a year but what if the tenant has a long-term agreement? Thanks!

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Steve Bracero
  • Real Estate Agent
  • from Westboro, MA
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Steve Bracero
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  • from Westboro, MA
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Steve Bracero
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  • Westboro, MA
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Steve Bracero
  • Real Estate Agent
  • Westboro, MA
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@Andrew Duclos

If they on a lease you will inherit the tenants (depending on what your offer says). 

What you can do after closing is meet with the tenants individually and introduce self/ have them sign new paperwork. 

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