Updated over 11 years ago on . Most recent reply
Purchasing SFR with Current Tenants
Hey All,
My wife and I are thinking of purchasing a home in California, the house is priced relatively well with comps and we like it very much. However, there are currently tenants in place and I am unsure how to proceed with this deal, and any contracts or suggestions to the seller when making this offer. Looking for some advice on how to approach this situation. Here are some numbers/dates.
Date submitting offer: October 21
Proposed Closing: November 19
Tenant Lease Expires: January 31st
Asking Price: 410k 2060 sqft 3bed 3 bath
Closest Comp in area: 425k 2239 sqft 3bed 2.5bath
Acg Sqft price in area is $191
The comp was sold with real estate agents on both ends. The proposed property is listed FSBO and does not want to pay for Buyer's agent.
How can I approach the tenant issue, and can I use this as leverage on the price? I would like to take possession of the residence NLT Feb 1st.
- Eric Giovannucci
- [email protected]