I ran into this problem the sellers had to lease their house back which my buyers were ok with but I want to know when do they do the walkthrough?
The final walk through is done prior to closing. After closing the lease takes over.
Maria - There should be two walkthroughs. One as the buyer before close and one as the landlord upon vacate. In the leaseback provision, which should be a seperate written document, spell out what will happen if there are damages between COE walkthrough and Vacate walkthrough. And just to make sure that nothing happens I would request a deposit amount be held back in escrow to be released at time of Vacate.
That is based on executed sales agreement between both parties I am very specific in my sales offer on what takes place for both parties.
As contract been executed? If no then include specifics special provisions, if executed then complete an amendment.
National Featured Realtor and Consultant, Mortgage Loan Officer, Credit Repair Lecturer
Lynn911
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