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Originally Posted by jyl
Ugh - hit a snag - deal is for seller to evict the three tenants on his own dime (90 days notice and pays them $3-4K each) and escrow closes when property is vacant. Turns out under local law it is more complicated. They’ve been there over a year so they can only be evicted for certain reasons and selling the building is not one of them. Converting to commercial is a qualifying reason. But seller isn’t the one who will convert it. It’s me, and I don’t want to deal with evicting them (or paying for it). Not sure how this will get solved. Maybe we cut the price.
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If this is residential and OR law is like CA's, I would think about touching it with someone else's 20 pole only. Price reduction? How much off the sale price and how much (time also?)will it cost you to shovel those low lives off into the pacific, legally of course? Down here in paradise, that can take a year or more then there's the construction time after they destroy more of the building. Time is money and you have to open up for business, I can only assume. A couple years can pass you by like a blink of an eye, then there's the economy and I sure hope it gets better. Sorry if I sound like a sour old man on this, just looking at all the bad stuff that can happen. I wish you the best of luck on this project.
This is for your kid or helping out?