If the seller doesn't vacate, then don't fund the loan. Wait until the home is vacant (and hopefully clean).
(RA) MBA, e-PRO, REALTORÂ®
East Oahu Realty
If both parties have signed the addendum, then they have a valid agreement. All parties should act in accord to the agreement.
In most cases the property is to be vacant three days prior to closing, but if both parties agree on one day...then one day it is.
I wish you the very best.
Kawain Payne, Realtor
Stay positive, if they signed the addendum, give them the benefit of the doubt
Much Success to You!!!.
Kawain Payne, Realtor
I have my final loan approved yestesday but feel very uncomfortable if I don't have the addendum he agrees to vacate 4 days earlier. I will ask them again although this time there could not be any money incentive as it violates. If the seller disagrees 4 days and he'd rather to find another buyer i think it sounds something is woring there and i would walk away. Any ideas for my plan with this decision?
Yes you can tell escrow not to close until seller moves out of property. Also, be careful when offering monetary incentive to seller on SHORT SALE. All monies need to be disclosed to short sale lender and they could take the incentive money. Small amounts are usually ok but you must disclose any amount to short sale lender.
Premier Ca Realty
They als run the risk of the loan not going through, so I understand their position as well.
The sequence should be:
1. Conditional loan approval
2. Prepare to move
3. Final loan approval
4. Move out
5. Walk through
Do you mean I do have the right to ask the seller vacate more than 1 day prior to closing?
The original purchase agreement has the Section 5(B) completely blank, so the listing agent/buyer agent agree to create an addedum to address this seller to vacate one day prior to closing. The seller did sign.
Both agents said if the seller does not vacate by the "one day prior to closing" as he agrees on the addendum, I can ask to not to close (even I have already wire my downpayment and my lender has already funded the loan), IS IT POSSIBLE, in the morningg of the closing day?
Now if you were to be asking the seller to change the terms of the original purchase contract regarding "Possession" of the property...then you would need to have the seller sign an "Addendum" specifying this change.
As to your question on "ensuring" that the seller would move out on the target date. The seller per the contract and addendum would have to. But life is not perfect and there would be a chance that the seller does not move out according to the agreed upon terms. Often when this does happen, which is rare, it is due to a mishap or unforeseen matter that has cause a slight delay for the seller though they will do everything they can to conform to the agreed terms. Always remember to seek legal counsel on issues like these should they arise or go south on you.