Do I need a lease agreement before purchase? - Posted by Lynda Kay

Posted by DavidV on September 30, 2003 at 09:53:37:

If you want to rehab make the purchase contingent upon the tenant being gone. If you buy and then evict thats more holding costs for you while you evict.

You also may want to put in a “walk through the day of closing” in the contract. The tenant may get mad at being kicked out and trash the place more than you want to fix. I’ve seen and heard stranger things happen.

Do I need a lease agreement before purchase? - Posted by Lynda Kay

Posted by Lynda Kay on September 29, 2003 at 22:33:25:

Purchasing property with a month to month tenant in house, no lease agreement with current owner. Not sure yet about continuing as rental or re-hab and sell. Didn’t know how hard it would be to get tenant out if I decided to re-hab or would it be better to have house vacated by closing date. Any in-put would be appreciated.

TIA