Friends I am in the process of buying a property to flip all of the title documents ready except that there are…
Friends I am in the process of buying a property for Flip
All Teitel documents are ready except that there is a tenant in the apartment
That needs to be cleared
How long do you think it is worth waiting for the tenant to evacuate the seller?
I have been waiting for a long time for an important deal to note
And the flip process will be 8 months from the time it closes
I would love to know what you would do instead of waiting for a month for the Teitel documents or so
When this happens, it's usually because the owner only shared it with a small group of people, changed who can see it or it's deleted.
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About the question I raised.
I was a little in a hurry with her. I spoke to the developer of the project a few minutes after I uploaded the post.
The developer, ori bar, has been backstage and resolved the matter.
He made another agreement and signed the owner and tenant who owns the property.
He solved it in a pleasant way.
In the agreement, he recorded that the tenant would receive another month to prepare for the departure of the property.
He left $ 11,000 in the Teitel Company escrow account that we could use for two purposes: the first to ensure that the tenant left while he agreed, and if not we could use that money for his eviction.
Second, he promised I would get about 10% on my money until we started the project. That is, the owner is obligated under the contract to pay me $ 1000 for each month the tenant is in until he leaves.
Walla left a cannon.
Both an entrepreneur who does a lot of real estate and a lawyer who understands well.
Ori Bar
Take a good look at what the law says, and what the tenant's agreement with the owner is today.
I heard about a case that a court must pay the tenant a huge sum for having cleared it, successfully
You note in the contract that the property must be vacant on closing day. If not then they have 30 day to evacuate the tenant. In return for this you leave money in escrow ($ 2500- $ 5000) that if the seller does not refer the tenant within the 30 day then you receive the money and deal with the evacuation.
This evacuation is usually on the order of a month (with an attorney doing the work). Of course it depends on the extent to which the property is found - check what the law is there.
Successfully
Bribes the tenant to leave only after he leaves and gives him a small amount of money