Sellers rep won’t transfer funds
Hello. This is my first time buying multi family. Funded 02/28. The sellers rep who is also the property manager refuses to transfer Mar payment to me which tenant paid to her 2/28 (she did not told them new landlords were coming). Estoppel (which she sent today) note tenant is overdue Feb. However, tenant shared with me evidence she paid Feb 1, Feb 15, and Feb 28. If anything, those three overpay Feb by 50% and the estoppel was incorrectly filled. What are my options? Throughout the event, the seller rep was difficult because she held off info until 10 minutes of any period (day before close, option period). And my rep could have performed better too. Good learning opportunity for me. Back to thoughts on my options? Thank you.
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@G Hernandez If the estoppel certificate was signed by the tenant and just delivered today, why is there a dispute over the February rent being past due? Is the PM holding the payment because she is saying it is for past due February rent? If that is the case, the seller would be entitled to the past due rent for February. Bring it to your attorney who just closed the deal; it was only a couple of days ago and they should be able to assist.