Posted by Jeffrey on September 12, 2003 at 14:31:58:
I might just jump in here and note that you may be competing for the same dollar that your new buyer is. Ie, your interest and the new buyer’s may run contrary. By the way, this past due rent is a material fact and must be disclosed to buyer. If I’m the buyer, I insist on getting the right to collect this past due as part of the deal. In one case, I collected from the tenant the past due amount, collected the rent like a hawk for 7 years from same tenant. I then sold the building and the tenant ran up a huge past due amount with the new landlord.