Home Buying in 94582>Question Details

Ashmama2000, Home Buyer in 94582

What steps do we have to take to get the sellers out of a house after the close of a short sale?

Asked by Ashmama2000, 94582 Tue Jul 19, 2011

We are set up close next week, but have a feeling the sellers aren't planning on being out at that time. What do we do in that case? Do we have to go through the courts and evict them or can we just send local police over since we will legally own the home?

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4
You would have been wise to stipulate in the contract to have the sellers vacate prior to signing loan docs. I am not giving advice here but if it were me, I would try to hold up escrow. or plan on eviction process. Contact a real estate attorney

Harold Sharpe - Broker
So Cal Homes Realty
(951) 821-8211
harold@socalhomesrealestate.com
http://www.realestatesuncityhomes.com
California Department of Real Estate Broker License # 01312992
0 votes Thank Flag Link Thu Jul 21, 2011
Although the SELLERS do not have the same relationship with the LISTING AGENT that they would in a "REGULAR" sale, they do have a relationship.

One of the things that MAY be happening is the GIFT of "MOVING MONEY" from the Bank to the Occupants: The Listing Agent should be able to tell you about this. It is $1000 to $3000 that the Bank sometimes give people to move out in a timly manner, and without damaging or removing anything. This money is not given to them until they have vacated.

Check on it.

Good luck and may God bless
0 votes Thank Flag Link Tue Jul 19, 2011
Hi Ashmama2000.

There are different things you can do.... I hope you are represented by Realtor. If so, ask your Realtor to postpone your closing until they are out of there (hopefully a week). Another thing is, is to still proceed with the closing as scheduled but you need to ask your Realtor to get the closing agent to hold back $10,000 to $25,000 of your money in the closing agent’s escrow and have addendum written up to this agreement. And when the Sellers move out and if the home is in good condition when they leave, you can release the Hold money. This is a good plan if the Sellers are staying for a few days or a week after closing.

If the Sellers are going to stay longer than a week, I recommend for you get a short tern Lease written up and/or get a real estate lawyer. I know this was probably not in your plan and you wanted to move in to your new home ASAP from the closing day, but you need you have a backup plan. Good Luck,

Jill Abrams, CRS, GRI Real Estate Consultant
Keller Williams Realty
http://www.South-Florida-Homes.com
jillselz@comcast.net
772.924.1863
0 votes Thank Flag Link Tue Jul 19, 2011
You have the opportunity to do a last-minute walk-through, and if your contract calls for "possession at closing", you have the right to insist that they are "out" prior to closing.

If they are not out, you should refuse to close until they are. Don't give away that leverage, otherwise YOU will become responsible for evicting them. Right now, the bank really wants them out, and if you refuse to close, THEY will be responsible for the eviction.

Good luck. Short sales are fun, aren't they?
0 votes Thank Flag Link Tue Jul 19, 2011
Alan May, Real Estate Pro in 60201
MVP'08
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