08-26-2010, 11:54 AM
Please be wary of that tenant issue. We thought we were being nice with the existing tenant having 7 days after close to move out (Since timing may have been an issue.) - yes they did have 45 day notice to move.
We got the tenant from hell for over 9 days. And legally they did become our tenant. I had to send them certified letters about deposits in escrow (none), removing commercial weed operation, etc ... it was a nightmare. They took a bunch of fixtures and outlet covers that the seller had to replace at his cost but that was a negotiation after the fact when we could actually take possession.
I had to call Tom Yeh and thankfully he gave me advise with only an "I told you so", i.e. call him first, not after the fact. We had to call police... I could go on... just be careful of that tenant issue even if you think they aren't really yours.
We got the tenant from hell for over 9 days. And legally they did become our tenant. I had to send them certified letters about deposits in escrow (none), removing commercial weed operation, etc ... it was a nightmare. They took a bunch of fixtures and outlet covers that the seller had to replace at his cost but that was a negotiation after the fact when we could actually take possession.
I had to call Tom Yeh and thankfully he gave me advise with only an "I told you so", i.e. call him first, not after the fact. We had to call police... I could go on... just be careful of that tenant issue even if you think they aren't really yours.
"I have never in my life learned anything from any man who agreed with me."
-Dudley Field Malone
-Dudley Field Malone