Q: Our offer accepted on multifamily home, was m to m lease, today he made tenants sign a year long lease, can it be voided
We just got our offer accepted on a multi family home about a 2 weeks ago, everything closes on oct 9th, today we found out that the current landlord made the tenants sign a lease thats almost a year long TODAY, and when we agreed to this it was month to month and we were planning to evict them (giving them two months to move) and move in our selfs, its two buildings one main house and a smaller in the back, we would keep back yard tenants. Is this lease legal since he already accepted our offer? Since we were going to move in (he knew that we wanted to move in asap) and in the listing it even says," Live in one and collect rent from the other or rent both." So now the live in one thing isnt even possible. Can we get that lease terminated or something by the court?
A: You really need to have an experienced attorney look over all the documents. Your facts state only that owner accepted your offer, but nothing about the signing of a formal contract. Since this would be an owner occupied 2 unit property, you should not have trouble evicting them. However, you should have purchased this building in an LLC, rather than own it personally. You should never invest in real estate without working with an attorney from the very beginning. Good luck.
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