considering purchase of condo with existing tenants
Hello BP users! I am wondering what questions to ask when purchasing a property with tenants already housed. I have an appointment to view the property but wonder when I could see the existing lease and how/when to ask about transfer of deposit (don't want to get stuck owing the deposit back when they leave). Also I don't know how long left is on the lease. Are their other questions to ask?
I'm afraid there is a lot of competition in this particular area and I can't offer the amenities, so already my rent will be at the lower end of the market. This is probably why he is wanting to sell. I will have to lowball offer just to make the numbers work.