Posted by Bud Branstetter on April 28, 1999 at 09:27:35:
Do like you do when you buy a mortgage. Have the seller sign a letter that will be sent to the occupant saying that you have bought the property and to send the rent to you.
Purchasing a rental property - Posted by chill
Posted by chill on April 28, 1999 at 08:10:48:
When making an offer on a rental property which has an existing lease, is there a document which the Buyer should attach to specify when the rents become due to the Buyer.
No realtors involved. I hope to buy with the owner financing - the house is currently leased for another year. I want a document that states that I will honor the lease and that the rents become due to me as of the purchase date.
Does anyone have one? Or could someone suggest the language for adding a paragraph to my purchase agreement?
Thanks.