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Updated almost 4 years ago on . Most recent reply

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Mark Panno
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Seller Not disclosing tenants behind on rent

Mark Panno
Posted

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?  

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Tim Johnson
  • Real Estate Agent
  • Skagit Valley, WA
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Tim Johnson
  • Real Estate Agent
  • Skagit Valley, WA
Replied

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. 

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