You are right not to sign the PAA.
Since escrow has already closed, there is little pressure you can apply to all the agents involved.
However, You should still contact your selling agent and ask him to help you in this issue. It seems to me, he should still be somewhat responsible to finish this transaction.
You should also contact a real estate attorney for advice and to draft a letter to the seller to demand that he leaves the property, (3 days notice) with penalties involved, etc. You can try to submit your question to an attorney at a website like http://www.lawguru.com.com.
If you should decide to pursue legal action against seller, you should do it right away,while they are still at that address (this way, you can serve the complaint easily).
Thanks to everyone who gave their input. It is all very much appreciated.
I had one experience where my sellers dragged their feet on moving out and I went over and read them the riot act. Here someone helps you get out of your debt and you screw them over?
The Buyers aren't the bank they are helping you solve your problem and at the same time finding a place to live. The buyers in many cases help sellers steal hundreds of thousands of dollars from the bank and give them a new chance at life.
The buyers agent in this case should have done the following
1. make sure the sellers have vacated prior to signing loan docs.
2. when the buyers did not vacate, the buyers agent should have suggested to you to kill the deal in the 11th hour.
3. the sellers agent should step up and get the sellers to get out as best as possible.
you may have to evict them. In doing so, keep in mind,
the condition of the property may suffer from idiot sellers like this.
to apply pressure you may want to talk with a real estate attorney and in this case, your attorney may suggest suing the two real estate firms involved. That may motivate the agents to get the people out.
Harold Sharpe - Broker
So Cal Homes
California Department of Real Estate Broker License # 01312992
As Bill stated, the transaction should not have closed until all contract documents were signed and the property had been vacated. However, since that didnâ€™t happen, I can only assume that your agent dropped the ball.
From a purely contractual standpoint, if what you state is correct and there indeed is no signed PPA, then the sellers need to vacate immediately at close of escrow OR as stated in the signed purchase agreement. If they fail to do so, they are continuing to reside in the property illegally and you have the right to evict them. To do so, however, will take much longer than 10/31 and you will also incur legal fees. You do retain the right to take them to small claims court after they vacate for financial damages you may have suffered by their refusal to vacate on time.
Since there is no signed PPA, there is no agreement as to the length of time the sellers can stay. In reality, your only practical recourse is for both agents (buyerâ€™s and sellerâ€™s) to work together to get this resolved. Unfortunately, this scenario happens all too often â€“ some sellers in short sale situations take their frustrations out on the buyers â€“ who are left out in the cold. The other issue you are going to have here is to verify the condition of the property â€“ if they take things with them when they leave, your only recourse will more than likely be small claims court for actual damages.
But the best way to avoid this scenario is to not let the property close while the sellers occupy it. This is perhaps an issue that should have been addressed earlier via your agent?
Charging them rent and requiring paynment for water, insurance, electricity, etc. etc. may not be too remote an idea.
NMLS # 6395
Financing Kentucky One Home at a Time
If you don't get agreement quickly, you would be advised to talk to an attorney.
The PAA has to be signed by ALL parties for it to be in effect. If you didn't sign it and you are the legal owner, they are trespassing and you can evict them. You might want to contact a Real Estate Attorney.