5823 Montgomery Rd, Elkridge: An Occupied As-Is Purchase for a Landlord Ready to Exit

Purchased: January 13, 2021

The owner of 5823 Montgomery Rd wanted to step away from a rental property after the tenant stopped paying rent. The property was still occupied, so inspection access and responsibility for the ongoing occupancy were important parts of evaluating the purchase.

An occupied property inspection

An inspection was coordinated before closing while the tenant still occupied the home. The seller was exhausted by the situation and wanted an exit without first resolving the occupancy or preparing the property for a conventional sale.

The purchase included occupancy risk

The buyer purchased the property as-is on January 13, 2021, with the tenant still in place. The buyer accepted the occupancy and legal-process risk rather than make vacancy a condition of this purchase.

After closing, counsel was used for the formal tenant-removal process. That process took months. The case does not suggest that a sale allows a buyer to bypass required procedures or obtain immediate possession.

Property photographs

What this example shows

A rental-property sale can involve more than repairs and a price. Here, the inspection, existing occupancy and responsibility for the process after closing all mattered. The seller’s goal was to exit the property, while the buyer evaluated the work and uncertainty that would remain.

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