I need some direction. A homeowner emailed me from my direct mail marketing. He states he wants to sell his home, however, the tenant won't let him get into his home. He said that he has told the tenant they have until the end of September. I will be calling him tomorrow & just want to know how to proceed with what I tell him. Any assistance you can provide will be greatly appreciated.
Is the tenant on a lease or a month to month? Even so, will the tenant use his 'rights' to stay longer. However, there are investors that will still buy if the tenant refuses to leave. Ask me how I know.
@Tiese C. -- In my experience, if the landlord is going through an eviction, they are willing to sell at a bigger discount to just sell you their headache!
If the tenant refuses to let you inside, then it's a waiting game. In the meantime, you can still build your case. I'm not sure how Virginia laws work, but I wouldn't push the subject with the landlord. The tenant might dig in their heels and you'd really be in for a fight.
Find out as much information as you can. Do a drive by of the property. How long ago was the landlord in the property? Does he have any old photos before it was leased? How long has the current tenant been in there.
You can do everything short of actually viewing the property. Once that day arrives, you've got all your intel to make an offer. Have your contract in hand, ready for signing.
@Roland Paicely , the homeowner said she did a 'gentleman's agreement' with the tenant. The tenant has been living there for 4 years and until the last 3 months, had been current with the rent. The homeowner said that she sent a certified letter to the tenant, which they signed for, stating that they have to be out by the end of September. She said she sent two additional notices that the tenant did not sign for. Roland, how do you know there are investors who would still buy if the tenant refuses to leave???
@Matt McConkey -- the homeowner has not started anything. I will be going by the house by Monday to take some pics. The homeowner lives out of state & hasn't, actually, seen the property in a year. She stated she has friends or family who live in the area who have helped with repairs and so forth over the years. I have to look at the podcast for finding the comps for the property. I was told by an investor to offer $25 sq ft since I am not able to get inside the house. She is willing to accept $34-$38k, my guesstimate offer was going to be $24-$28k, but if I go by the suggestion of the investor, the offer would be $20k bc the house is about 750-760 sq ft. What do you think?
@Tiese C. - I wouldn't make an offer until you go and see the property. You know as much information right now as the landlord.
What gives you the right to offer $20k if you have no justification. You need to tell them this and this and this is why my offer stands here. The more information you have, the stronger your offer will be to the owner.