Found a SFH in SoCal that had been on the market for several months. Finally called to see what the issue was and discovered that the place is owned by a mom-and-pop landlord and has tenants that have not paid rent since the COVID moratorium kicked in. Apparently the tenants said they’ll be departing shortly, but are currently not allowing any interior inspections. Made an offer for substantially below what similar houses are going for in the area (we’re talking early 2020 price) and it was accepted. Tenants will apparently allow an inspection, so working on that now.
My goal is to move into this place as a residence. Just wanted to get the subreddit’s thoughts on whether the risk here is acceptable for the price discount. My calculation is, best case scenario, they leave as promised after escrow closes and don’t damage anything. Middle-of-the-road scenario, I have give them a 60 day notice to move out and, if they don’t file an eviction action. Worst case, the moratorium is extended, my hands are tied, and I’m stuck paying for a mortgage and rent for my current home at the same time (financially doable, but it would definitely suck).
Not really sure what I’m actually asking, but all comments are welcome:).