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Updated over 6 years ago,

User Stats

50
Posts
16
Votes
Jeff Oberts
  • Rental Property Investor
  • Loves Park, IL
16
Votes |
50
Posts

Current owner/landlord keeping the deposit?

Jeff Oberts
  • Rental Property Investor
  • Loves Park, IL
Posted

Hello, I am currently in the process of buying a small multifamliy (my first investment!) and I have encountered something that seemed odd in the process, so I was hoping you guys could shed some light.  The seller advised that she will be keeping the current tenant's (who will remain living there) deposit.  Is that right?  Shouldn't she provide us with the tenant's deposit (check or credit at closing) so we can use it or return it when the tenant moves out?

Thank you!

Jeff

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