How to collect back due rent before selling property?

[Michael Doherty]

Hi all,

I am closing on the sale of a MF I purchased earlier this year. When I originally purchased it, the seller only credited me 1 of units security deposit and used the other units deposit to cover back pay rent. I am faced with a similar situation as I go to sell the house. One of the tenants has a $1100 security deposit which was disclosed to the seller's. 

Since executing the purchase agreement, my tenant still owes $875. I contacted my lawyer and he said legally I could take from the $1100 security deposit. Other colleagues and friends advised against this because it could jeopardize the deal and isn't worth the $875 (I would agree).

So there's a few options here:

1. take from security and let the sellers know why at closing

2. Forget the $875 and chalk it up as a closing cost.

3. Work out an arrangement with the tenant to pay me as much before the closing date (1 week) and collect the remaining cash post closing. 

Obviously I would be moving towards eviction if I were keeping the property but it is not worth it at this time. 

Thank you for the advice.