Home Selling in 91606>Question Details

Maricelaherr…, Home Seller in 91606

How many days after closing escrow does the seller have to move out of the home?

Asked by Maricelaherrera79, 91606 Mon Sep 13, 2010

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Darrell D. Drouillard’s answer
Ditto to all my colleagues comments!! My only 2 cents to add is that a buyer should always do a final walk through of the property prior to closing. The reason is to ensure the property is in the same condition it was in when contracted. But a second reason is to ensure it was vacated without damage and there are no 'holdover' sellers still occupying if the contract states possession occurs at closing and funding. Good Luck
0 votes Thank Flag Link Sun May 27, 2012
how many days after closing escrow does the seller have to move out of the home?
0 votes Thank Flag Link Sun May 27, 2012
I am curious why you are asking us, and not your Realtor. The only person who can answer your question in your case is someone who has seen the paperwork.

I will add that there is a process called a "rent back" or a "lease back" where the seller pays the new owner their principle, interest, taxes, and insurance (called PITI for short) if they need to stay after the close of escrow. This should be negotiated as soon as the situation is known, because in most moves the situation is more like a game of dominoes. If the seller needs to stay, then the buyer cannot move in, and perhaps the person moving into the buyer' s home cannot move either.

Plan ahead, be fair, and protect yourself.
0 votes Thank Flag Link Tue Sep 14, 2010
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
If you're using purchase contract CAR Form RPA-CA (which most agents use), look at Section 5.b. It states in that section when you will take possession and if any written agreements have been made for the seller to occupy the property past close of escrow. There is no "customary" waiting period after escrow that a seller has to clear their things out. The only thing that matters is what's in the contract. In California, all real estate purchase contracts must be in writing. Verbal side agreements, handshakes, winks, nods and coughing will not stand up in court.
0 votes Thank Flag Link Mon Sep 13, 2010
Usually, the seller should be out of the property by the day that escrow closes. Unless you are "renting back" from the buyer for some time. But, your contract should tell you.

Sara Mehrpouyan, CDPE
Rodeo Realty
dre#01712757
818-903-2040
http://www.athomewithsara.com
http://www.distressedhomeoptions.com
0 votes Thank Flag Link Mon Sep 13, 2010
Hi Marciela, it is a matter of negotiation, and is usually written in the original offer/purchase contract. For example, it is common in the Valley for the Seller to have 3 days after escrow closes to move out, whereas in Los Angeles proper, you almost never see that. In those cases, the Seller moves out 5 days *before* close of escrow. But anything can be negotiated-- for example, if the Seller needs time to find a new home, it's not unusual to "rentback," or to stay in the home and pay rent to the new owner until they find a place. A skillful agent should be able to negotiate terms that work for you. Feel free to contact me if you have any other questions.
0 votes Thank Flag Link Mon Sep 13, 2010
It depends on what you have negotiated with the buyers. Sometimes, the buyer takes possession the day of closing. Other times, it can be up to 5 days after closing. When this happens, you will usually have to pay the buyer a pro-rated rent for the days you occupy the property after closing. Typically, the title attorney will hold some of the seller's funds until after the property is vacated. Again, all this can be negotiated and will be included in the contract.

Best of luck to you!
Web Reference: http://www.DesariJabbar.com
0 votes Thank Flag Link Mon Sep 13, 2010
Hi there,

It will specify in the contract when the seller must vacate.

Hope this helps.

John Barry
Coldwell Banker
0 votes Thank Flag Link Mon Sep 13, 2010
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