Under contract to buy small park now. I see nothing in the contract that addresses the transfer of the current tenants deposits and / or the rents of a few that may have payed ahead on their lot rent. How is this usually addressed? Thanks.
Without knowing what contract you're using - Advanced payments are addressed under Prorations, and the rents you will need to absorb as part of the purchase price or negotiate it with the Seller if you think you can. The Seller must provide a copy of the executed leases or estoppel letters for all tenants for this to happen.
Ultimately you will be responsible for those deposits and its critical you know how much they are and have a signed document from the tenants saying how much it is.
Hi, Thank you for your reply. I re-read the contract, and found the section for prorations. It is covered.
Do you know what HSE Only means, when listing homes included on an addendum for property to convey.Thanks again,Michael
I've seen "hse" used as an abbreviation of "house"
Thanks, that could be it. Just confusing because all other homes are listed as to their 'model/make'.These two are listed HSE only, and HSE.Michael