Home Buying in Vancouver>Question Details

Gitta, Home Buyer in Vancouver, WA

how long do they stay after sales?

Asked by Gitta, Vancouver, WA Sun May 8, 2011

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12
Hi Gina, The purchase & sale agreement.states the buyers take posession of the property at closing/recording. In some cases that can be negociated to extend posession w/ a rent back agreement. This is done at the time the offer is written and would have to be agreed upon by both parties. Otherwise the terms of the contract need to be adhered to. Hope this helps you. I 'm available to answer any questions you might have in the future.
Patricia Bergren
360-798-6733
Coldwell Banker United Brokers
1 vote Thank Flag Link Sun May 8, 2011
Hi Gina, The purchase & sale agreement.states the buyers take posession of the property at closing/recording. In some cases that can be negociated to extend posession w/ a rent back agreement. This is done at the time the offer is written and would have to be agreed upon by both parties. Otherwise the terms of the contract need to be adhered to. Hope this helps you. I 'm available to answer any questions you might have in the future.
Patricia Bergren
360-798-6733
Coldwell Banker United Brokers
1 vote Thank Flag Link Sun May 8, 2011
I don't quite understand the question but I assume your asking how long the sellers stay after the sale closes?

I would suggest you look at your purchase and sale agreement. Many times it's the day of closing the buyer takes possession. Years ago it was common for the seller to stay up to 3 days following the closing but there was a lot complications and insurance issues since the buyer held the policy on the home. Talk with your Realtor to confirm the status of your contract, it should be spelled out black & white.
0 votes Thank Flag Link Mon May 9, 2011
Gitta, Hope you have a realtor you work with and guides you through the processs. The only problem I see here is that you don't know your contract or if you buy as a FSBO, you didn't cover this aspect. This should have been negotiated from the beginning when you choose the day of closing. As is explained in the other answers you got, there are more options, like: possession on closing, an early possession for the buyer, rent back by the seller or negotiable, but both parties have to sign and agree upon.
Laura 360-904-6440, Realty Pro
0 votes Thank Flag Link Sun May 8, 2011
They legally stay as long as your agreement says they stay.
Web Reference: http://www.321property.com
0 votes Thank Flag Link Sun May 8, 2011
It is purely negotiable. Unless the buyer's lender states that the buyer must occupy the home in a specified period of time.
Web Reference: http://www.jameswehner.com
0 votes Thank Flag Link Sun May 8, 2011
I have closed escrow a rented back to the seller extra time for them to move.

David Cooper. Las Vegas Foreclosure Investor in Bank Owned REOs with Cash Flow. email or call for FREE daily list +1-7024997037 not a real estate agent
0 votes Thank Flag Link Sun May 8, 2011
Hi Gitta!

Great question! I think what you are asking is how long do the sellers stay in the house after the purchase by the homebuyer has closed. Normally, the seller of the house must be vacated from the house on the day of closing which is the time you get the keys. There are other options in a purchase and sale agreement such as "negotiable" in which you and your agent would negotiate with the seller and their agent on a time that works for everyone. A real estate transaction is completely negotiable from when the buyer gets to move in, to what furniture stays. Everything is negotiable which is why it is important to have a realtor that you trust. Hope this helps! If you need any more information, please feel free to contact me at 360-609-0086.

Cheers!
evie hampton- Re/Max equity group, inc.
0 votes Thank Flag Link Sun May 8, 2011
Gitta, there are many places in a transaction you might refer to SALE or PURCHASE.


In a t ypical scenario, after an offer is made and accepted...it takes about 30 days to do all the necessary paperwork, loans and transfer of title, exchange of money, etc. allow 30-45 days.

Once all the documents are signed and closing occurs...that is negotiable, from ON RECORDING, to a length of time agreeable to both parties, but SELDOM more than 5 days without a leaseback occupancy agreement.

If you are referring to a short sale...you made an offer, the seller accepted...NOW the bank has to approve it and it could take 60 days....or even 6 months.

if you are talking about a foreclosure sale....at the court house steps, ...then I believe there is a 20 day court order vacate notice to the seller.

If you are involved in a transaction .....consult your realtor. they are best suited to advise/inform you of the various status, conditions and phases, relative to your transaction. YOUR REALTOR, guides you through every step and loophole, to navigate what are often complicated transactions.

In todays market...its imperative to HIRE A REALTOR...even in a ForSaleByOwner. To be sure
A). The seller has the legal right to sell.
B), The title can be cleared for the transaction
C). The purchase and sale agreement is on a legally binding contract
D), your earnest money didnt just go in their pocket.

There are many cons and games being played, homes being returned to the bank, sellers preying on inexperienced buyers.

So....while your question didnt reveal the conditions of your transaction, every one is different, with many times 12 professionals each doing a segment of the transaction, to get to "handing you the keys".

You may now be more confused than before....so if you need a little support and assistance, CALL a REALTOR...
0 votes Thank Flag Link Sun May 8, 2011
Possesion is negotiable. In most cases the buyer takes possession the day the agreement closes after it has been recorded.
0 votes Thank Flag Link Sun May 8, 2011
Gitta ...what do you mean ? how long can WHO stay ?
0 votes Thank Flag Link Sun May 8, 2011
Can you clarify your question where a Realtor can assist you ?

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Sun May 8, 2011
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