Bob is correct. Make sure that escrow is going to close, and when, first. Do everything you can to ensure it does close from your end. The alternative is far worse! Assuming it is going to close, get a rental agreement in writing ASAP. You need to deal with the "tenant issue" immediately.
I would also have the buyer remove ALL Contingencies and, Irrevokably and Immediately Release and PAY from escrow the entire Earnest Money Deposit to you now. If it's less than 3% of the sale price, make them increase the deposit to 3% and again release it all and have escrow pay it to you now. Of course this is in addition to paying monthly rent and a security deposit. Put all of the money into an account of yours and don't touch it until everything is resolved.
Make sure to keep your insurance in place - it is still your house and your lender expects you to have it covered. You may need to inform your insurance company you now have a tenant - that may increase your policy premium too.
I would also have a meeting with your agent and the Broker tomorrow to determine what happened and what they are going to do to resolve the situation should the sale be delayed longer, or if the sale does not close. If the sale cannot close (due to Buyer's issues) it will take you many months to get them out and you likely will not be able to market or show the property - and it is likely you will not collect any rent.
Best of luck and please come back to let us know the outcome....
Newport Beach and Palm Desert
MY first order of business would be to find out when the escrow is going to close, followed by doing everything in your power to make sure it does.
If it LOOKS like the escrow is indeed going to eventually close, then, I would revert back to the rental request you received, and if everything other than the occupancy - rental amount, utilities being in their name, insurance coverage, etc. - is acceptable, then sign it and make it effective the day it was offered, and at least collect some rent, and avoid some responsibility.
You can deal with the other agent - assuming that you can PROVE that they are the ones who gave the buyers the keys, later - in my humble opinion. Right now, THAT is the least of your problems.
I'm assuming that YOU have your own agent, although that wasn't mentioned, in your post.
What does your agent suggest?
Peyton? It is now Monday morning, and hopefully you can start to get a LOT of answers, especially from YOUR broker, including when your escrow is going to close. Good luck in sorting this mess out as quickly and painlessly as possible.
It was the BUYER'S agent who appears to have given the keys to the "buyer's".
As I stated earlier, however, the OP wasn't quite clear on that aspect of the situation.
I've had a similar thing happen when a property manager gave a tenant keys early. I was pretty furious. Handing over keys early IS a big deal and any real estate agent that doesn't understand that deserves to be called on the carpet and learn that lesson the hard way.
Wow, pretty bold unilateral move on the part of your Agent, which certainly comes with legal exposure to you, your Agent, and their Broker.
I believe many would agree your Agent does not appear to be working in your best interest when against your direction provides access to your home without your consent, nor with a contract that outlines responsibility for the following considerations (at a minimum):
1) The exact terms of possession
3) Late charges
4) Responsibility for utilities
5) Entry rights
6) Responsibility for maintenance
8) Responsibility for insurance
9) Any other special terms deemed necessary to compensate you.
Personally, I believe you should seek a legal opinion on what your next steps should be. Non-action on your part can be construed to mean acceptance of the current situation.