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Updated over 11 years ago,

User Stats

48
Posts
14
Votes
Dean Suzuki
  • Investor
  • Mission Viejo, CA
14
Votes |
48
Posts

Security Deposit: What if seller doesn't have the tenant's security deposit?

Dean Suzuki
  • Investor
  • Mission Viejo, CA
Posted

Hi,

I am negotiating on the purchase of a four-plex in Arizona. The seller just countered my purchase offer stating that they don't have any of the security deposits for the tenants in the four-plex.

I haven't received any of the leases yet so I don't know what this security deposit amount is.

Does anyone have suggestions on how I should respond? I am thinking that I could counter for a price reduction in the amount of the total security deposits. The seller's agent mentioned that they had multiple offers so I am concerned about pushing too hard on the counter. Or, I just could take over the burden of the security deposits.

Do you know if its possible to go back to the person/prior owner who the tenant signed the lease with to try to get the security deposits?

Any suggestions are appreciated.

Thanks.

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