Security Deposits on Multi-units/Bldgs - Posted by Chris(Indiana)

import · August 25, 2003, 9:52pm

Posted by rob day on August 26, 2003 at 07:37:39:

depends on the state. In mine deposits are settled outside of closing, never on the escrow or hud.

import · August 25, 2003, 9:52pm

Posted by Chris(Indiana) on August 25, 2003 at 21:52:42:

What happens to those security deposits that the owner has taken? Are those transferred to you? If so when…at close?

I am going to look at two multi-units tomorrow and just wandering about what questions to ask. First time looking at them with realtor and owner.

Boilermakers

import · August 25, 2003, 10:13pm

You get a credit in escrow. - NTXT - Posted by Brent_IL

Posted by Brent_IL on August 25, 2003 at 22:13:59:

.

import · August 25, 2003, 11:20pm

Re: You get a credit in escrow. - NTXT - Posted by Chris(Indiana)

Posted by Chris(Indiana) on August 25, 2003 at 23:20:55:

Thx Brent for replying. Does that mean that at closing I get a check/deposit into my account? That is what I am assuming you mean. I’m thinking I can possibly use this as some operating money at first. Just trying to think ahead…

thx again…

import · August 26, 2003, 5:23am

Re: You get a credit in escrow. - NTXT - Posted by Ronald * Starr(in No CA)

Posted by Ronald * Starr(in No CA) on August 26, 2003 at 05:23:10:

Chris–(IN)-------------------

You would have a credit on your escrow closing statement. This would reduce the amount of money that you have to bring in to close the purchase.

Good InvestingRon Starr***