Previous owner refusing to send tenants deposits after purchase
I just purchased my first duplex. After the sale, i realized that the seller never transferred me any of the deposits on the leases for the tenants. I also found out that the information that he gave me to contact the tenants with is no good. By the time i was able to get ahold of them by knocking on their doors multiple days in a row, one of them had already paid the next months rent to the old owner as well.
In all between the deposits and that rent payment, the seller owes me $1975.00 for this. I asked the seller to sent this over to me, and his response was “this was never brought up during the deal. I don’t think i’m required to do anything now after the deal has closed.”
What should i do? Should i hire a lawyer and go after him for my money? Is this my fault for not outlining this in my lease? Do i just take the 2 grand hit and move on? This is my first property so i realize this is a learning experience. But i really don’t want to be hit with this big of a set back right out of the gate.
Any advice would be appreciated.
Most Popular Reply
@Alex Nelson - speak with a real estate attorney licensed in your state. That will supersede any advice you get here.
That said, my advice is to look at your purchase contract and see if it makes mention of deposits. I would take it to court (perhaps small claims) and if a judge hears that he did not give you the correct contact info AND he took the next rent check, chances are he will be in hot water. The tenant who sent rent to the wrong place is responsible for paying you. It sucks and it wasn't his fault, but that's how things go. He can take it up with a judge. Besides, it's better to have 2 people going after the seller. Good luck!