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Updated about 7 years ago on . Most recent reply

Account Closed
  • Rental Property Investor
  • Houston, TX
56
Votes |
106
Posts

Closing on multi-family. How do I get the pro-rated rent?

Account Closed
  • Rental Property Investor
  • Houston, TX
Posted

Hi all,

This is my 1st deal and my agent is telling me all the pro-rated rent should be taken care of by title company. I have the final closing disclosure from seller and it does not have any pro-rated rent or deposits from renters. 

What should I do?

Most Popular Reply

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7,658
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Roy N.
  • Rental Property Investor
  • Fredericton, New Brunswick
4,300
Votes |
7,658
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Roy N.
  • Rental Property Investor
  • Fredericton, New Brunswick
ModeratorReplied

Push back ... send back the disclosure indicating that it is missing the rent adjustments (provide your own numbers) and security deposits.

Either you, or your agent, should also be collecting estoppels directly from the tenants themselves to verify the information provided by the vendor (rent amount, deposit amount, any side deals, etc).

  • Roy N.
  • Loading replies...