Home Selling in 92040>Question Details

frostycal, Home Seller in Lakeside, CA

after excrow is closed how soon do I have to move out?

Asked by frostycal, Lakeside, CA Wed Dec 19, 2012

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5
Great question. This quesiton is answered in the standard CA Purchase Agreement contract, page 3 paragraph 5-B. The default contract answer is - the Seller will move out and clear out all their personal property and trash by 5:00pm on the day escrow closes. However, you can negotiate other options if both parties agree.

For example, I just represented some buyers in the purchase of a home in El Cajon. The seller wanted a couple extra days to move out and clean up. After we made the offer, they sent a counter offer asking for the exra time. My Buyers agreed, so it became part of the contract.

Note: The minute escrow closes, the property belongs to the Buyers and any disputes after that point are outside of the bounds of the contract and you will have to settle them privately or in court. The contract recommends (and most good Realtors will agree) that if the Sellers stays in the property beyond the transfer of title, that the parties should enter into another written agreement to cover the details. The longer the time they want to stay the more important this is and the agreement will become like a Rental Agreement.

Feel Free to Call me any other questions.
Dave Swanson, Realtor
GRI, ePRO, BA, MA
619-203-1809
1 vote Thank Flag Link Wed Dec 19, 2012
Look on page 3 of 8 of the California Purchase contract at the top under paragraph 5 and it will tell you how many days possession you get.
1 vote Thank Flag Link Wed Dec 19, 2012
Thank you for your question. Read your contract it will tell you either right away or 3 to 5days You agreed with your agent.She will know also. Good luck. Diane
1 vote Thank Flag Link Wed Dec 19, 2012
Either the day you close escrow, or as agreed upon in the contract. You can also close the sale and "rent back" for a certain period of time if both parties agree to that, and it works with the buyers' loan if they're using one. Generally, you'd pay rent for each day you rent back, using the buyers' monthly payment as a guide, so there's no cost to them. Your agent can help you with this.
0 votes Thank Flag Link Wed Dec 19, 2012
The answer to that question is in your purchase contract. Read the first page carefully - that should give you the timelines. If you can't find the answer there, then call your Realtor or Escrow officer. None of us is going to know what's written in your contract.
0 votes Thank Flag Link Wed Dec 19, 2012
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