Updated about 10 years ago on . Most recent reply
Pro Rated Rent at Closing
This may be a basic question but I have never inherited tenants on a property that I bought before so I wanted to know about pro-rated rents at closing.
For example, if a tenant owes the seller unpaid rent at closing, this in no way affects the seller's obligation to provide pro-rated rent to me at closing correct? The seller agreed in the offer to provide pro-rated rent so I as assuming they owe it to me whether or not it is collected. Also, I suppose "owe" may not be the proper term since the pro-rated rents and security deposits simply mean I owe less at closing.