Seller still running rental Ads
Is it appropriate to request that the seller of a multi family stop running rental ads when you are a couple weeks away from closing?
Let's say that the leases in place stretch 2 and a half pages with large font and double spaced with headers. Also, the current screening process is less than seller.
I was a very tough negotiator throughout this process. So much so, my own agent seemed a bit nervous at times. Until now I have kept the flag on my end of the real estate tug of war. I just want to be sure that I'm not overstepping my boundaries by making the request.
At the end of the day my agreement has prorated rents and deposits coming to me. Not to mention I plan to occupy the place for a while. I just do not want to be left with a problem.
Most Popular Reply
Marie,
We take a slightly different approach as we prefer to Close on a full building. Our purchase contracts always contain a clause where we deduct 2-mths rent from the purchase price for any units that become vacant prior to Close ... the purpose of this is to keep the vender motivated to keep the building full.
To avoid receiving several units of undesirable tenants, we also insist that all new tenants be subject to our application and screening process ... we even offer to assist the vender in securing new tenants.