In cases like this, in order to keep the sale of your home in place, it's often necessary to identify an interim location that can be used until you get settled in your new location.
Understand that your buyer may have the same needs as you in terms of housing and may be relying on you being out of the home by the propose closing date. (the normal process) You are not at the "eleventh hour" and should be having serious conversations with your agent and the buyer about how you can creatively solve your problem and keep your sale in tact.
Time to communicate.....
Did you mention this to your buyer? Do they know about it? what is their reaction? Do you think both of you can come up with a solution as mentioned in the previous answers to your questions?
I assume you are looking for a rental to move into, because you do not have time to buy before closing your escrow. Did you consider a short term rental and putting your furniture in storage?
You have to buy time, i.e. it will cost you one way or another; but it's worth it if you have found a qualified and able buyer for your property. Look at the bright side. You just sold you house and in a very fast time!
Good luck Give me thumbs up if this is useful to you!
Muriel Levin, Broker - Realtor
HAFA certified,Certified Negotiator, Short Sale and Foreclosure Resources Specialist. Residence, income properties and commercial leases.
Votre agence immobiliÃ¨re de confiance sur Los Angeles et toute la rÃ©gion de la Californie du Sud
Agent Immobilier Francophone a Los Angeles, Hollywood,Santa Monica and Beverly Hills . Achat et Ventes immobiliÃ¨res a votre portÃ©e, de loin ou de prÃ¨s.
Muriel Levin @ gmail.com
The closing date should have been in the accepted purchase agreement and in escrow instructions. In any case, seller needs an extension on move out date. I would not extend my escrow closing date but request a 3 week lease back from the new owner. Close the escrow and request a lease-back from new owner. The lease cost is based per diem on the new buyer total housing expense (PITI). Discuss lease back with your Realtor and see if buyer(s) agree. Additionally, present lease-back to buyers lender for their approval.
The buyer has as a loan commitment with expiration date maybe extension will cause buyer to reapply with existing lender and new rates maybe higher for buyer(s). Closing escrow on assigned date is best option.
Gail Mercedes Cole
8700 Reseda Blvd., Suite 213-B
Northridge, California 91324
(818) 967-9626 mobile
(818) 979-0226 fax
If not, stop wasting your time asking us and ask Buyer for extension, you may get it and you may not. Buyer has no obligation to oblige. You may have to provide a monetary incentive.