Backing out of RPA due to current lease structure California
1 Reply
Akshat Nanda
posted 2 months ago
We are in contract on a multi family. We removed all contingencies. The seller kept on delaying providing a lease. 3 days before close, we found that some units don’t have leases at all. I don’t want to close in this situation. Can we back out and get our deposit?
Joe Homs
Flipper from Mission Viejo, CA
replied about 2 months ago
@Akshat Nanda not after removing ALL your contingencies. Were you working with a Realtor? Honestly, however I would not be too concerned about a month to month lease. Its more advantageous for you. I would be concerned if they are NOT paying their rent? If you close and you are concerned then ask the tenants to renew the lease for your piece of mind.
Good Investing...