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re: Buying a rental property that is currently leased
Posted on 7/25/18 at 12:19 am to BHTiger
Posted on 7/25/18 at 12:19 am to BHTiger
Generally the new owner steps into the shoes of the current owner as far as any leases are concerned.
Security deposits are usually figured into the closing of the sale... so you won't typically get a seperate check or anything, but you will get a reduction in the amount of money that you have to bring to the table at closing, to account for the deposits.
Security deposits are usually figured into the closing of the sale... so you won't typically get a seperate check or anything, but you will get a reduction in the amount of money that you have to bring to the table at closing, to account for the deposits.
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