Bedford, TX · Member since 2015 · 40 posts · 6 votes
Hello Dear Members - I am trying to buy a property from a whole seller but the tenant wants to stay in the property for 1 month after closing. What are my risks if the tenant does not mover. What can i do to reduce my risk.
Real Estate Professional · Atlanta GA · Member since 2015 · 615 posts · 225 votes
10y
Hey @Irfan Saeed. Anytime you need to have the property empty and either the owner or tenant needs time to move out you are exposing yourself to potential risk.
In cases like that we always escrow some of the owners until the property is totally empty and cleaned.
Sellers never really have an issue with this. When they do, we know there is probably going to be an issue with getting the property empty.
Only time I overlook my above rule is if the deal I'm buying is so good that no matter what happens its still worth the possible eviction or what ever else needs to take place to get that property empty.