116. I want to sell my house with tenants, can they stay in the house?

I want to sell my house with tenants, can they stay in the house?

Hello good afternoon how are you my name is Chris Russo with 123soldcash.com uh we buy properties we pay cash we buy single family duplexes triplexes fourplexes condo townhouses land small commercial and we buy it anywhere anywhere in the State of Florida and also outside of the State of Florida that’s Case by case today I’m going to talk about a deal that I close it’s in Vero Beach and it was a rental property and uh let me see here we bought it for 125. um this is a cheap price um and they had tenants inside the property whenever I buy properties in the tenant first thing the the seller asks is hey can they stay in the property normally I say yes depending if they’re not paying on time I’ll still buy the property but with uh but it would have to be at a discount so normally what we do is yes the answer is yes and sometimes they’re on month to month or sometimes on year lease if it’s a yearly lease I would have to buy the property with them in it because they have a yearly lease and cannot break the lease so a lot of times it’s month to month and I’ll buy it and then afterwards I’ll either keep it at the same rent or increase the rent or give them an option to leave give them a 30-day notice so the answer to that is when I’m buying rental properties most of the time I will buy the property with the tenants in there and what I do is I send them what’s called an unstop a letter stop a letter gives the the payment amount the next payment due uh if they’re behind in any payments the security deposit or any other deposit any guidelines or regulations or anything in reference to the tenant and then what I do is I send it to the seller the seller signs it and then also the tenant signs it to confirm because if there is a deposit the title company would have to uh put that on the HUD the closing statement and it would be a credit toward the buyer so anyway he called from my I think it was my TV ad again and I gave an offer and he said Yup I’ll take it and we’re closed within 30 days um and it was a smooth transaction everyone thing went smooth and then he said Chris close this one I have another property that I want to sell and uh so that one we’re working on now so yes the answer to your question on on this topic buying properties with tenants in the property sure I’ll buy it and even if they’re behind if they’re behind and they’re behind a couple months or they’re just not playing uh paying or they’re they’re squatters I’ll buy it also but obviously there would have to be more of a discount the reason is because I got to take into consideration I have to hire an attorney an eviction attorney and they’ve got to go through the process and sometimes what I’ll do is I’ll give them cash for keys I’ll tell them listen I’ll go through the process I’ll ask them nicely to leave that I’m buying the property or I bought the property and to say no or they give me some trouble I’ll say okay I’ll give you cash for keys I’ll give you cash now that you leave and um if not I’ll go through the eviction process and then you will not receive anything and uh there’s a process obviously you gotta speak to an attorney on this more or less they hire a processor they put a notice on the door there’s a certain amount of days and then there’s another process another process and then finally the judge signs off that is fiction and then eventually if if if they’re still there the sheriff comes they knock on the door and they evict them and they have to take all their belongings out that’s a simple quick short version of it but actually it’s you know it’s longer than that and again I’m not an attorney but you know what to speak to an attorney uh and they’ll explain the process and by the way I have an attorney that I work with who does all my evictions so that’s it and I’ll see you on the next uh video bye-bye

Get More Info On Options To Sell Your Home...

Selling a property in today's market can be confusing. Connect with us or submit your info below and we'll help guide you through your options.

Get An Offer Today, Sell In A Matter Of Days...

  • This field is for validation purposes and should be left unchanged.

Leave a Reply

Your email address will not be published. Required fields are marked *