Home Buying in 19126>Question Details

Sgt. Danny R…, Home Buyer in Midway, GA

What happens to your security deposit when you purchase the property from your landlord?

Asked by Sgt. Danny Rix, Midway, GA Sun Mar 3, 2013

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It should be returned to you if there are any damages you now own the property and you will need to fix them at your expense
0 votes Thank Flag Link Sun Mar 3, 2013
In Pa its a State Law that the L/L must return your deposit to you by the 12th month unless there is any substantial damage discovered whereby the repair cost is discounted from the held deposit.

In relation to to making a purchase on the Property that your renting...? Yes... the deposit could either be returned to you or applied towards the purchase of the home.

All the Best, John Curci RE/MAX- Now you can take us with you http://www.mobile.homecatch.com

1-866-473-6290
0 votes Thank Flag Link Sun Mar 3, 2013
make sure it is addressed in your contract that you either get it back or have it credited as Alan says.
0 votes Thank Flag Link Sun Mar 3, 2013
It should be returned to you (or applied toward the purchase...at your choice).
0 votes Thank Flag Link Sun Mar 3, 2013
Alan May, Real Estate Pro in Evanston, IL
MVP'08
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