Seller Returned Security Deposits before Closing

[Account Closed]

Our closing is scheduled this week for a multi-family purchase, and we just found out that the seller returned the security deposits to the current tenants. We are inheriting the tenants in this purchase.

What recourse do we have to adjust for the now non-existent security deposits?

[Tim Herman]

@Account Closedif it is a title company they have to follow the contract or you will have to rewrite another contract. You will also get a credit for whatever the rent is collected before the close. Why have the burden of trying to collect the security deposits. This is a business treat like a business.