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Updated over 10 years ago,
seller & tenant deposit dispute
I recently purchased a property where a tenant says her deposit was a much larger amount than the seller says it was. The only documentation is the lease, which was signed by both parties and has the larger amount. The seller says that just because the lease lists a certain amount doesn't actually mean that the tenant paid it. Now the tenant is moving out and I received the much lower deposit amount from the seller at closing. The tenant can't find her receipt and doesn't have a checking account. What would you do?
Before you all jump on me, I actually provided estoppel forms for the tenants, but the seller picked up most of them and I didn't see them until closing. I suppose I could have stopped the closing, but I didn't think it was worth the hassle over a few hundred dollars' dispute.