Updated about 9 years ago on . Most recent reply
Security Deposit Transfer - What is THE REAL DEAL ?
I am presently purchasing a 6 unit building and have the original leases plus the tenants filled out Estoppels.
However on one of the estoppels the security deposit is larger than stated on the original lease.
Advice anyone ?
The realtors are claiming go by the estoppels....
Wait and see what come over in the transaction......
Doesn't sound good to me to me...
See image below
Most Popular Reply
looks like security deposit and last months rent. If he only collected the difference between the two, then there should be that extra $500. there is no first month rent mentioned on there. i would have the current owner settle this before purchase and tell him to get it all in writing with signatures, this way when the tenant leaves you will have no problems.