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Updated over 5 years ago on . Most recent reply

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James S.
  • Wantage, NJ
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Inheriting tenants - No Lease/No Estoppel - Walk away?

James S.
  • Wantage, NJ
Posted

I am looking to buy a 3 family, there is 1 tenant paying under market rent on a month to month.

Seller's lawyer is advising that since this is a estate sale, seller has no right to request estoppel certificate. 

Can I request a estoppel certificate myself from the tenant during inspection/prior to closing? Can I have my agent do it? Is it even worth it to go forward with this deal if I cant get the estoppel? 

Most Popular Reply

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Jason D.
  • Rental Property Investor
  • St. Petersburg, Fl
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Jason D.
  • Rental Property Investor
  • St. Petersburg, Fl
Replied

@James S. If there's no lease, how much does it really matter what they're paying? You buy, write up new leases at whatever rate you feel, or you let them leave and get your own tenants in the property. Seems like a win-win to me

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