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Updated almost 9 years ago,
How to handle: while closing on MF, tenant moves out, deposit??
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?