QUESTION
What will happen to the security deposit on the sale of a property?
Asked on Aug 22nd, 2013 on Landlord and Tenant Law - Idaho
More details to this question:
After we vacated the property (a house) we were renting, the landlord sold the property to another party, before making any repairs. In the course of the real estate sale, they offered the prospective owner credit towards closing costs, which they state was offered because of the damage caused by our tenancy. They have provided estimates of repairs, but no receipts as no repairs were actually done by the landlord. The amount of the credit exceeds our security deposit.
2 ANSWERS
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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You are probably out your security deposit. The fact the landlord did not fix the damages but allow a credit for them is irrelevant.
Answered on Aug 23rd, 2013 at 10:15 AM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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Your security deposit is gone since the cost of repairs exceed the amount of the deposit.
Answered on Aug 23rd, 2013 at 10:10 AM