buying tenant-occupied property

[trthskr]

I am attempting to purchase a single-fam home in northern California and have gotten down to closing, however, since this home is tenant-occupied, I will not close until the premises are vacant. Upon acceptance of my offer, I performed an initial walkthrough inspection of the property along with my agent and the sellers' representative. At that time (approx forty days ago)I was told by the listing agent that tenants had been served a thirty-day notice to vacate and could be assured of closing and moving in within a month. Based on this information, I served notice to my current landlord of my intent to vacate at month's end. Now, at the end of the month, I am informed that tenants have not moved out, but should be expected to move out in 10-12 days. I now find myself facing unexpected circumstances(homelessness)and seek to determine if I have any recourse available to me since the owners are accomodating the "extended stay" of the tenants. Thanks for any assistance!

 

[HomeGuru]

Do you have a real estate agent?

 

[trthskr]

Yes, I do have a real estate agent representing me. She suggests I write a memo to her including all the details as well as a request for compensatory consideration for undue economic hardship. Upon receipt of this memo, she and I can review it and then forward a final draft to the owners' rep. for consideration. What are your thoughts?

 

[HomeGuru]

Something is wrong. Your agent should have stipulated in the contract that the Seller is to have the tenants removed on day 31 if they do not vacate on or before the 30 days. If this is not accomplished the Seller is in default and the following penalties wil apply........Forget this pussy footing around with the memo, review, final draft, owners rep consideration yada yada yada etc. You are just appeasing your agent and she is stalling for time. Time is not on your side. Just hire a real estate attorney to send a demand letter for the Seller to hire their own attorney to evict the tenants now. If they gave proper notice to the tenants, the tenants are illegally holding over and unlawful detainers.

[Edited by HomeGuru on 11-30-2000 at 10:39 PM]

 

[trthskr]

Your advice is well-taken. Time to consult an attorney!

 

[HomeGuru]

You came here to seek the truth baby and there it is.