Home Buying in 30047>Question Details

Mark, Home Buyer in Lilburn, GA

Selling our home on a Fri., closing on home on Mond., has anyone rented from the owner where moving. Transition prob. for furniture for 3-5 days.

Asked by Mark, Lilburn, GA Sat May 26, 2012

Just need a place for home goods, we don't need to live in new home.

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Happens many times during transition...found it helpful to have your closing attorney draft a per diem agreement with the owner's attorney (or owner directly if applicable)...Some owners may not like this because of mortgage commitments not happening as expected and the deal being delayed of falling through. I as the seller want to be 100% sure if the buyer if getting financing that it WILL happen and they are approved! Tom Hinz http://www.shortsaletosell.com
0 votes Thank Flag Link Fri Jul 10, 2015
Stoarge pod for your furniture may work to eliminate the transition problem....Steven has brought up another alternative that may or may not work depending on timing of other parties involved and their respective agents mindsets in regard to temporary occupancy agreements....You may also want to amend the contracts to allow for the transition issues if everyone is on board....Definiely discuss with your agent .

Good Luck!!!
0 votes Thank Flag Link Sat May 26, 2012
If current realtor does set-up a Temp. Occupancy Agreement (which he making plans to provide as a service), should we as his clients pay a fee or is there a 'usual and customary' charge or commission? He has not brought this up himself but we want to be fair.
Flag Mon May 28, 2012
You would need to consult with your Buyer's agent on this since they are representing you in the transaction.

Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle Renovation | VA | USDA | GA Dream | Jumbo Financing.
0 votes Thank Flag Link Sat May 26, 2012
It is called a temporary occupancy agreement for buyer prior to closing exhibit. Basically it states that you will gain access to the property you are purchasing prior to the closing date.
The other option is a temporary occupancy agreement for seller after closing exhibit. This one states that the seller will continue to have access to the property after closing for x amount of days. This one is tricky because it could be misconstrued as a lease back and the buyer’s lender may not approve it.
Remember, disclose…disclose…disclose. Everyone involved must be aware of the agreement.
0 votes Thank Flag Link Sat May 26, 2012
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