Plenty of great answers.
Have a great day and enjoy the next several days before you get your keys!
In reality the seller can give you permission to work on his property, but it is never recommended because you could make improvements at your cost and the escrow may not close for some reason and you will have invested in the sellerâ€™s property with no recourse to get your money back. It would be like you giving them a gift.
Hang in there!
Diana Margala 909-560-0145
The â€œRealâ€ Difference in Real Estate
Information is â€œFreeâ€ but Knowledge is Priceless
Every buyer thinks the property is "basically" theirs and they want to get a jump on repairs BUT..have you thought about what happens if it doesn't close?
If you're in escrow, you'll own it soon enough. Just wait. Make a list, price out repairs (and ask for permission for entry if needed) but don't start anything.
The Homefinding Center
As eager as buyers are to get started, I would caution you about spending time or money on the house until it closes. Deals have ways of falling through when you least expect it.
I know it's hard, but wait it out :)
My general answer would be to say "NO! NO WAY!" But, If you were my buyer, there are variables that might cause me to say "Yes" in very rare circumstances. If you don't mind donating time, money and energy to someone's home then you may want to proceed. But let me share a story.
Several years ago, on an approved short sale listing, I arrived at the vacant house to find the buyer and their family painting, doing flooring and some minor repairs/upgrades. They had just received their loan approval and apparently their inexperienced agent had told them it was a "done deal". I told them the same thing I ALWAYS tell MY buyers, "nothing is over until I meet you at the house to give you the keys & your closing statement." Then I politely explained to them about the legal ramifications of them doing what they were doing, told them all to leave and proceeded to change the lockbox code. It could have all worked out fine in the end, but...there's more.
Four days later, Freddie Mac foreclosed on the home. The buyer's inexperienced agent then told them what had happened and apparently didn't relay the info I gave to her because her outraged buyers fired her. Wait for it...there's more!
I jumped in to action and was successful in getting the foreclosure reversed so we could proceed with our short sale and still close on time. I contacted the buyer's agent, who in turn contacted her buyers. Incensed at the money they had already "lost", they apparently decided to take a break from looking for a house. During the short time from Freddie Mac foreclosing to me getting back to them, they decided to purchase a new vehicle. Unfortunately, this threw their qualifying ratios out of whack and they no longer qualified for their loan.
I won't bore you with the details of the lawsuit they filed which, by the way, they lost. But I will say the new buyers of the home LOVED the new paint, flooring, & upgrades.
So, if you haven't given up and you're still reading this long answer, I believe there are two good things to take away from my story:
1. "Nothing is over till it's over" so don't do the repairs
2. Don't work with inexperienced agents.
Good luck with your escrow!
Please feel free to call or email anytime.
Lydia Kray- Corona/ Eastvale Realtor
I have a great many posts about the product in my past questions if this does match your situation. Any lender with IN-DEPTH knowledge and experience with the product (most likely a 203k) will be able to assist you. You may contact me if you have specific inquiries as well by clicking on my picture/profile.
Best of luck!
P.S. The link to the previous post (below) with a similar issue (ignore the other issue in the thread, that's not relevant to this thread)
(Your thumbs up is always appreciated!)
3. NO WAY!
There are ways in order for you to do so, however they're risky and I always dissuade any buyer of doing this. Take it from me and all the other professionals who have commented before me. It's just too risky.
By the way, if you still really want to fix & clean, let me know. I have a huge long to-do list of stuff on my house that you can practice with while you wait for your escrow to close!
No? Not interested? Oh, well.
Have patience and I wish you good luck on closing your new home!
Keller Williams Realty
Serving your Real Estate needs since 1996
Then start sifting through home improvemen, architecture, design, landscape magazines and catalogs, etc. and start cutting out photos. You will be amazed at how much more creative you will be and quite surprised at how many times you changed your mind and thankful you didn't spend any money first.
When doing so you are asking for legal trouble. I had a buyer that did that and the Agent threatened to cancel!
Be patient. I know your excited. :)
Lydia Kray- Tarbell Realtors
Just because you have a contract (in Escrow ) does not give you any rights to the property.
In fact what if it falls out of escrow and you never own it?
The property is yours in title format when you get that call the Property has recorded.
Then you have to make sure the property is vacant, to take possession.
It is never wise to go fix up a home that is not yours or in escrow.
Gather your patience. Relax,... soon you will have to call the locksmith and usually a few other people to make your property that you purchased a home.
Harold Sharpe - Broker
So Cal Homes Realty
California Department of Real Estate Broker License # 01312992
Your Mortgage Loan Isn't Final Until It's Funded.
You can read the blog post in the web reference link right below here.
If the current owner gave you permission (preferably in writing), then you could. But it probably wouldn't be wise. The transaction could still fall through, and then you'd have put money into the repairs and cleaning, but you wouldn't own the property.
Check with your Realtor for more information.
Hope that helps.