Selling property with tenant in place
Hi BP Community,
I am selling a rental property in NJ, and it's currently under attorney review. The buyer plans to live there, and expects it to be delivered vacant. The expected closing date is end of September.
A tenant currently resides in the property. The tenant is in the process of buying a house herself. I am told that it's in the abstaining mortgage stage, and should close by end of August. If all works out, they should be out by end of September when we close, so we can deliver the house vacant. However, if the tenant can't close, and needs to remain there, what options do I have? The lease doesn't expire until 11/30/2017, so technically she can live there until then.
What's your suggestion? Please help!