Expert: Hans Weber, Licensed Broker Associate - 10/27/2009

Question
Good Morning I am concern..I am buying a house in NJ closing is at the end of the week. I went to the house for a pre final inspection to find the tenant still lives there.  Her lease is not up until DEC. 2009.  I stated that I wanted the house vacant at closing.  The owner says he did all he can do to help her find a place and she needs another month. If the tax credit didn't end in Nov. 31st i would have said we can wait to close, but not only wasn't I notified of this matter, I already purchased home insurance what are my options...upset/but i do want the house, but I don't want tenants.  stump? any advice  

Answer
Hello Trisha,

Thank you for your question.

Congratulations on buying a house too!

The seller tried to get the tenant out but failed and now you have a problem until the tenant's lease expires.  The lease is part of the property.  Unless the tenant will leave voluntarily they have the right to stay until the end of the lease.  If there is anything in the contract of sale about the lease/tenant you should start with that.  

Otherwise you may be a landlord for a month.  In this case be sure the seller gives you a copy of the signed lease now and perhaps you may want to confirm the lease with the tenant.  The seller/landlord has to pass over to you at closing the tenant's security money.  Plus the rent paid for the remaining days of October gget paid by the seller to you and future rent gets paid to you.  Just tell your lawyer about this and they can probably arrange to have the lease transferred/assigned to you.

In any case close before the credit runs out.

Good luck with your new home.

Hans