Home Selling in Chino Valley>Question Details

Fred Anderson, Home Seller in Prescott Valley, AZ

What is the standard time period for a seller to vacate the home after the close of escrow?

Asked by Fred Anderson, Prescott Valley, AZ Wed Mar 10, 2010

My mother wants to have one extra day after the close of escrow to move out of her home before the buyer takes possession. Is this possible?

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Fred,
Yes it is possible. It is really up to the new buyer. Like what was said below, it requires a "post possession agreement". I don't recommend this, however. After close of escrow, the home really belongs to the new buyer. There are many things to condsider, including legalities. Really, the risk is too great for just one more day. I would tell your mom to do anything she can do to move before the close of escrow.
Web Reference: http://jerrycecil.com
0 votes Thank Flag Link Mon Mar 22, 2010
Fred, This would require a "post possession" agreement - which is basically a temporary rental agreement - outside of the Purchase Contract. Not the cleanest way to go, but it can be done. Just be sure that this agreement addresses utilities, property insurance coverage and move out conditions. If possible, delay the closing a day and keep it simple. One day is a small time frame to compicate the transaction and open up potential liablity. It is best to be moved out prior to close.
0 votes Thank Flag Link Thu Mar 11, 2010
Fred:

The standard time period for a seller to vacate the home after closing is immediately. In order for the buyer to conduct a thorough walk-through of the property prior to closing , all of the seller's possessions must be out of the home and it should be in move-in condition for the new buyer.

That having been said, if you are going to require an additional day after the closing this should be negotiated and arranged at the time of your purchase and sale agreement. This is when it pays to have a good real estate attorney to set this up for you. There is also a matter of liability for that additional day since your mother will no longer be the owner but would be responsible if anything happens to the home while she is there.

It would be a much better solution just to plan the closing one day later if that is possible.
0 votes Thank Flag Link Wed Mar 10, 2010
Fred,
Speak with your mother's agent as soon as possible to let all parties know about your mother's wishes. Have the agent clarify what the contract stipulates. From my experience, these kinds of accommodations can be made if you show the buyer some consideration.

Congratulations on the sale.
0 votes Thank Flag Link Wed Mar 10, 2010
Yes it is as long as the buyer will allow it. This is normally prearranged at the time of the offer being accepted but if something came up that will not allow her to move out before closing she can request an occupancy for one day. Normally this requires a payment of some sort but sometimes buyer will not allow it. They have schedules, movers family etc. as well and deserve to have possession of their new home after the closing and funding of the transaction. Good luck.
0 votes Thank Flag Link Wed Mar 10, 2010
I forgot to ask, Why not just close one day later? It would solve the problem.
0 votes Thank Flag Link Wed Mar 10, 2010
Everything depends on the contract that is signed. Move out day could be a week early or a month late. The real issue is what do the buyers want? If the buyers just want to sign and unpack her staying there would be a problem. It also brings up certain problems like what if something gets broken, the house burns down, the furnace dies and so on.

I would really think the best thing would be for her to have all of her stuff packed away and when closing day comes she takes a shower, locks the door and rents for a day if necessary. If the problem is moving stuff out, you could ask (in the contract) for one day to remove her stuff. Buyers may agree or not.

For a smoother transaction rent a storage unit for a month. It saves a lot of hassles. She can always pack a suitcase in 5 minutes for any personal items remaining.
0 votes Thank Flag Link Wed Mar 10, 2010
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