Unknown situation with tenants

[STEPHAN]

I am still in Florida ;-)

Hi!

Need a little advice.

On 4/1 we closed on a short sale. It was a very interesting deal; otherwise we would not have done it.

There are tenants (a family) in the house and per the listing agent they want to stay. Also they confirmed it to my realtor.

The seller’s bank did not allow the tenant to be mentioned in the closing documents.

The seller refused to turn over any documents. She insisted there is no contract as they are now on a month to month. She insisted that she has paid a lot of money for a lawyer for the contract so she will not give it out. Of cause the sales contract says different, but the deal is too good to let it do.
She gave us in writing (notarized) that there is no security deposit.

The tenant however insisted to my real estate agent, that they have a contract and that there is a security deposit.

I thought that I would sort this out with the tenant now, but they do not pick up the phone or answer the door.

I am aware that I could loose a few month of rent and if I have to that will still be a good deal. I was willing to take that risk.

I am just a little puzzled on what to do now. The seller said that no rent for this month was paid; I don’t know if the tenant agrees.

They have been notified by the seller that we are the new owner.

Would you handle it as a holdover?

Would you give them a 3 day notice to pay or vacate?

Thanks for your input.

Stephan

 

[Gail in Georgia]

Do you want them out or do you want to keep them as tenants?

If they say they have a lease, they can produce such.

If not, and they claim rent has been paid this month (doubtful from the timeline you mention purchasing this property) they can produce evidence of such).

If there's a security deposit hanging out somewhere the current tenants can go after the former owner for this.

I'd be hesitant to believe anything the current tenants would be claiming based on the fact they are not picking up the phone or answering the door. Doesn't bode well for them working with you as their new landlord.

Gail

 

[STEPHAN]

Just as a little feedback:

It all sorted out. Her phone did not work, she did not get my messages till today. We signed a new contract. We got a check.

This was a great deal, so all is good.