Repair responsibility when buying a tenanted property

[J Zhang]

I would like to get some insights from those of you who've been through buying a tenanted property. We just did the inspection and there's about $800 repairs (not wear and tear) that would be tenant's responsibility. The seller says I can just deduct the repair cost from the tenant security deposit. To me, this is using security deposit to pay for repairs DURING a lease (because the tenants aren't moving any time soon). I believe the seller should settle these repairs with the tenant now, and hand me the full amount of security deposit at closing. I don't want to start the landloring with a tenant dispute about those repairs.  What are your thoughts? How did you or would you navigate through this? 

[Theresa Harris]

You can't because you don't know the move in condition of the home and it would be the seller's word against the tenant.  At the end of the day $800 of repairs in an inspection report isn't that bad-ask him to split it with you.  You also need to make sure you get the tenant's deposit (in full) transferred to you at closing along with prorated rent.  As soon as you take possession, do a walk through to document the condition of the home, so that when the tenant does move out, you know what was damaged AFTER you bought it.