seller makes last minute changes

[Kimar Abdul-Samad]

Good morning everyone,

I placed an offer to seller one day.  The agent says they will consider offer and get back us the next day.  Next day arrives and we are informed that there is now a renter moving in.  There is still a considerable amount of work that needs to be done, which I planned on doing after close.  Apparently, these tenants are also paying below market rent on the property.  Although we requested a copy of the lease, I do not understand the reasoning behind putting tenants into this house...?  I have no idea of who these people are nor the screening process that afforded them the lease. What reason would a seller have to put tenants into a property after an offer has already been submitted??

[Account Closed]

The seller and their agent are free to change their mind and take the property off the market, or to keep it on the market and sell it with tenants in place. The sellers could be doing someone (friend or family) a favor by putting them in with a lease right before the sale. Or they may be getting offers from sellers that aren't closing. 

Is the property a good deal? I suggest that you not let the lease cloud your thinking.  Look at the terms of the lease (ask for the tenant application info as well) and see if they work for you.  If not, rescind your offer or counter with terms that require the property be vacant.  I suggest not spending any time on the seller motivation or reasoning.  Stay focused on purchasing with terms that will work for your purposes.