Updated almost 4 years ago on . Most recent reply

Seller Not disclosing tenants behind on rent
Is it illegal to sell a rented property(4 plex in this case) and not disclose that a tenant is behind on rent?
The rent was prorated at closing as if it was paid for the month of December.
Anyone have experience with this?
Most Popular Reply

I have no comment on the "legality" of that. But from a buyer's perspective - it's hard to imagine closing on a 4-plex without asking to see a rent roll report and all other financials (for the past 12 months at minimum) as part of normal due diligence.