seller is asking to stay after closing
scdeb424
15 years ago
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housekeeping
15 years agoUser
15 years agoRelated Discussions
Contract says sellers can stay 5 days after closing
Comments (66)Hmm,I can see I've messed up much worse than Carol.I browse through this forum occasionally and saw this posting and thought I might need to read it.I live in south Ga and recently we've offered a contract to a seller,the house was for sale by the owner.We were preapproved in advance.I used no real estate lawyer,only my bank lady has helped me.To make a long story shorter I made a verbal offer and only after she accepted it did we do a contract and it was a very short contract stating what we offered for the house,termite inspection and or treatment,etc,a few more things added but I didn't think to say she had a time frame to be out of the premises after closing.My banker(mortage lady) had said I could make my own contract and I just used a copy of a contract agreement to go by.Of course the banker lady went over my contract and said it was fine.I guess she didn't catch it either.Anyway all this rides on the VA approving the loan to and I haven't heard yet though it has been appraised nor did I offer any money to the seller as earnest money(I think thats what it referred to here)We're purchasing it as a "AS is"home so intend to start working on it right after closing.I do know the lady can't leave until she has her money from the sell.I guess if she doesn't leave in the next day or two after closing she will have to help work! Debbie...See MoreSeller pick up closing costs - common??
Comments (20)Diane, I hate to make sweeping statements like I did, and am sure that it is a strategy for some people who have no problems making the fees but use it for a tool. I am addressing the market in my area because it's the one with which I am familiar and I have been working to sell and sometimes buy. There are many very modestly priced homes here, perfect for first time owners and the rents in this area are surprisingly high. Higher than mortgages for a comparable unit. What is stopping the typical buyer in what should be a very desirable situation is the ability to come up with a hefty down payment, or the closing costs, and the higher risk loans they'd be eligible to get often require heftier closing costs. Myself, I like to get as much equity up front in a home as I can...but know that isn't the right way to do it across the board for everybody. Each situation is unique. If one expects a quick appreciation on a home and a rapid turnover, they may very well wish to amortise the closing costs with their loan because they expect it to be short term....See Moreproblems after closing
Comments (17)Good points, NC and pauline, When I first noticed the pipe and the liquid, which was prior to closing, it did not look like sewage. The liquid didn't smell, and I even took a small vial of the stuff and closed it up to see what it looked and smelled like after it sat for awhile. It was odorless, and the dirt separated from the liquid, which was clear. The listing broker used to work for a large firm in the area, but left to work for herself about a year ago, so there's no one over her head to complain to. She's it. I bought the house outright, so there was no bank or mortgage company to stop the sale from going forward. And I, like a fool, believed my lawyer when he said the septic system was compliant and didn't check the paperwork at the closing. That's the bad news. The good news, I hope, is that the seller has been in touch with me, via email, so there's a record of our correspondence. He told me that he would take care of the problem if it turned out to be sewage leaking onto the property. He's a pretty upstanding guy, has ties to the area, and says he wants to resolve this amicably. I never thought of myself as naive. In fact, I consider myself to be fairly jaded, and I'm not a trusting person at all. But if this situation continues to deteriorate, I may have to rethink just who I am....See MoreTaking Possession after Closing
Comments (14)When we originally bought our house, it was new construction so there was no problem taking immediate possession after closing. However, now I'm getting ready to sell and the issue of when the buyer takes possession has been in the back of my mind. I will never forget a couple I knew of who had "sold" their home and, early on the day of closing, were loading their belongings into a moving van when the "buyers" stopped by to tell them they would not be able to close on the house after all - the sale fell through. Fortunately the couples plans were to live with a relative on an interim basis and they were not yet financially obligated for another mortgage. A second couple I knew actually purchased a new home on the basis that a buyer had signed a contract on their old home, only to have the sale on their old home fall through. With 2 mortgages they had several months of financial hell and extreme anxiety till the house in New York finally did sell. Is there some means (barring money-sucking lawsuits) by which a seller in those states requiring immediate surrender of the property on closing is protected financially in the event the sale falls through at the last minute? As for me, having known 2 couples to whom it actually happened, I'll be pretty much ready to go, but not actually vacated until the papers are signed and the check is in my hand. As for Sewhappy, if having to wait 24 hours (24 WHOLE HOURS!) is such a mind-blowing event for you, you have truly led a blessed life to this point....See Morefreezetag
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