Panelists will review the risks of purchasing occupied property starting at the “Offer to Purchase” stage and continuing through the P&S negotiation and finally, following through until the closing is complete. Many new buyers of multi‐family property are finding themselves stuck with under‐market tenants, non‐paying tenants, illegal apartments, statutory violations, etc. Many of these issues can and should be handled at the offer stage. A diligent conveyancing attorney should become familiar with the rights and responsibilities of being a landlord or engage an eviction/landlord‐tenant attorney at a very early stage.
The content provided in the REBA News is for informational purposes only and it is not legal advice nor does it necessarily represent the opinion of REBA or any of its members or affiliates.
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