A condo has a renter with a 1 yr lease with 4 months left that gave the owner a deposit of $1095. The seller has no credit in the escrow for the $1095 to come from. The bank's approval letter does not mention the renter's deposit therefore it won't come from the banks proceeds. I've requested an estople. The seller is out of state, so I know I must get the deposit into escrow before closing or I won't see it. Does anyone have experience with this situation? Any suggestions?
Thanks!
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I'd like to hear the answer to this one, too. The deposit is held on behalf of the tenant and does NOT belong to the seller.