Updated almost 7 years ago on . Most recent reply
Offer contingency broken
I recently put a 9-unit apartment building under contract. It was 100% occupied. Two of the 9 units had a lease, but the other 7 didn't and were month to month. I put a contigency in the offer that all the apartments needed to have leases and also 100% occupancy. Today was the deadline and 1 tenant declined to sign the lease and will now vacate the apartment. The rent was $450/month.
I don't know what to do. Should I ask for a concession in the form of cash at closing?