Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 9 years ago,

User Stats

224
Posts
50
Votes
Ryan Moore
  • Rental Property Investor
  • Phoenix, AZ
50
Votes |
224
Posts

How to handle: while closing on MF, tenant moves out, deposit??

Ryan Moore
  • Rental Property Investor
  • Phoenix, AZ
Posted

Closing on my first property, a 4-unit multifamily in Phoenix.  At inspection it was noted that one of the units wasn't in the best shape.  The lease shows that $350 was collected for the deposit.  During the appraisal, I noticed that the unit looked unoccupied and still in disrepair.  Reached out to the seller's agent.  They stated that the tenant agreed to move out early.  They said that they weren't going to fix anything because it was noted in the inspection report (minus the missing thermostat which they will replace), and they were unsure of where the deposit is.

So I obviously feel like I'm getting screwed over on this.  I knew the unit wasn't in the best shape, but that there was a deposit on file.  Now the unit is unoccupied, and I may not be getting the deposit.  So they are going to keep the deposit and not fix anything.  Thoughts on what I should do next?

Loading replies...