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Updated about 8 years ago on . Most recent reply

How to handle RUBS at closing
I'm closing on a property in a few weeks where the landlord pays electric and bills back to the tenants. Does anybody have experience with this sort of closing and how funds are dispersed?
I'll put utilities in my name on the date of closing, but seller will have roughly 1 month of utilities owed to him at the time of closing. He does not want to close without getting that cash and I do not want to pay him up front and then have to collect it from tenants afterwards.
Any suggestions?