A Midland landlord owned a duplex rental property that had developed serious foundation issues — the east wall was bowing inward, and two foundation repair companies had quoted $35,000+ for piering. The property had tenants in both units with active leases. The landlord was tired of the ongoing repairs, tenant calls, and cash-flow drain. He wanted out of the rental business entirely.
We evaluated the property with the foundation issues factored into the offer. We agreed to purchase with both tenants in place, honoring their existing leases. No tenant communication was required from the seller — we handled the transition. Close in 14 days.
Closed in 14 days. Foundation repair avoided. Tenants retained. Landlord exited rental business in one transaction.
Tenants are not an obstacle to a cash sale. The right buyer will purchase occupied properties and honor existing leases. The foundation repair cost — $35,000+ — would need to come out of a traditional listing price anyway. Selling as-is to a cash buyer eliminates that negotiation entirely.