Buying house with tenants and moving in - 5 Tips!

This video is for homebuyers, not investors! With record low inventory, we understand that homebuyers may be considering buying a house with tenants, just to get a chance to buy a house! If you find a tenant occupied property for sale, make sure you understand these 5 tips before buying a property with tenants! We cover this and more:

✔️ What are the two ways to buy a house with tenants❓
✔️ What extra paperwork should a home buyer review❓
✔️ Is there way to shorten the process when giving notice to a tenant❓
✔️ How can buying a property with tenants affect the financing❓

Sections
00:00 WIRE Associates intro from Christian Walsh
01:33 Buying house with tenants - two ways
03:25 Tip #1 Who is terminating tenancy?
04:25 Tip #2 Financing
05:47 Tip #3 Paperwork
07:29 Tip #4 Eviction
08:44 Tip #5 Bonus to save time and money

#WIREassociates #HousingMarket2021 #BuyingAHouse

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This is not meant to be a solicitation of a property currently under contract. This is not meant to be legal or tax advice, please consult with the appropriate professional. We are licensed to sell real estate in California (if you need help elsewhere, we can help find a good broker, let us know), CalRE # 01804983. Berkshire Hathaway HomeServices California Properties (# 01317331)

Remember when you click, I may receive a small commission at no extra cost to you. As an Amazon Associate I earn from qualifying purchases. I only recommend products and services that I've used or have experience with.

[katec]

I've just seen a property I liked online but it has a tenant in it who is being difficult about letting people view the property. This makes me think they might also be difficult about leaving the property. So I've declined to view it, I want to live in the house I buy, not become an accidental landlady with a difficult tenant while I have to rent somewhere else.

[robertdavis]

Good video. I applies for the sb91, dollars. Its been 3 weeks. Nothing yet. I called out the company that was dealing with this process and they knew nothing about it. This is what happens when you're dealing with the government and its money

[WIREassociates]

Homebuyers, with low inventory are you considering buying a tenant occupied property? Let us know...

[AustinFoe]

I appreciate the video. I'm trying to buy my first home for last 2 months. Currently looking at a house (tour tomorrow evening) that is within my budget but will be occupied by tenants for another 10 months (lease). It has been on the market for a few weeks with zero offers. Waiting 10 months doesn't bother me but I don't know squat about being a landlord. I really want to learn more about it. I do have intentions of renting out rooms in the future but wasn't expecting to be a landlord right away. Also don't know if VA loan will have exceptions for this either considering its not my primary residence after closing.

[jilliand]

About 2 weeks away from buying a tenant occupied and just hoping everything goes smoothly. Will probably offer cash for keys after closing. Wish me luck 🤞

[Ddiizzylizzy]

Sounds like a huge gamble with my life savings, 😩 I like the cash for keys, this property looks to be 40k below market value and tenants want to stay until October. Thank you for answering my questions!

[jamezc]

I wish i would have seen this video before taking my realtor word. I just closed on my first home purchase last month, now i just have to get the tenants out.

[Jmunoz]

I'm in the process of buying a duplex with a tenant.

[robertjones]

Cash for Keys, would it be smart to wait until the tenant moves out before you give them the "Cash for Keys" money. What happens if you give them that money and they don't move out.

[savaven]

Where would Information specific to the current tenants be? We have a duplex with a granny unit In back the unit in back has a older woman in back who is very aggressive and rude angry we want her out, I want to know if there is any specific information in the purchase agreement that would stop us from removing her she is month to month

[krissagomez]

The house we were looking right now has a tenant that does not pay rent since its a duplex from a family who recently died. So the house does not have sellers disclosure almost sold as is. The tenant does not want others to view the house too so we don't know what it looks like. And my agent wants me to sign the papers without even look into consideration about these red flags. Good thing I did not sign it.

[jimihendrixfriends]

Man you probably just save me from an ish storm.

[victors]

Why I didn’t see this video before? I’m in a situation where the tenants are still in the property and the buyer wants to move on the closing day and they don’t wanna pay for my locked rate.. after a lot of issues I’m going to ask away from this nightmare deal

[straightshooterz]

I put a offer on a hoMe but there’s a current tenant residing until September and planning to move in by July
Idk if I should move forward with it. I don’t want to deal with this headache in case these issues arise that this tenant doesn’t want to move out.

[addalynnblog]

Hi, we’re interested in a house that listed for sale with the tenants still living in it and they have been living in for years. The house sale as it the owner does not want to deal with the tenant and we don’t know the house condition as we can’t go look the inside. I wondering if the Cash for Keys still applies in this situation? Any recommendations? And thanks for your video.

[GreatSeany]

I'm looking to buy a place in Anaheim as my first home. Tenant's current lease is til end of June. I know the owner of the house. I'd like to hold off on taking possession until the tenants are actually out, but I'm worried about interest rates going up to the point where I can't afford the house by the time May/June comes around. What can I do to protect myself but also secure an interest rate soon?

[cuarajhyrojayju]

Question how do I evict tenants if the new owner wants to move in to tenants unit?
They have expired lease from previous owners and are in months to months tenancy
What is the best way to write a notice to quit?
For no right or privileges?
Lapse of time?
Serious nuisance?
I already sent 2 notice to quit for 30 days each
Giving them 60 days notice
But I don’t know if my notice has the proper language I don’t want to have to start all over again for some technical issues with the notice to quit thanks

[bisanniana]

I’m the tenant the buyer give me 90 days to move out, I said yes the home price 950, 000……

[pinchebruha]

Insane you buy a house yet you have no right to live in it!

[LarchmontLady]

Excellent advice! I’m interested in a 2-family house but waiting for the price to go down $50K. You opened my eyes to the possible legal and financial hurdles.