Home Selling in 91324>Question Details

Deb, Home Seller in 91324

how much time do i have to stay in home after closing?

Asked by Deb, 91324 Wed Aug 25, 2010

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Answers

9
Hello Dear Deb,

That’s a great question!
However, this should have never come up as a problem, since your agent should have discussed this matter with you on the very beginning of signing the Purchase Agreement. Buyer normally takes possession after close of escrow, or if different it has to be stipulated in the purchase agreement (3 days after closing at 5:00pm) etc. I had some closings, the buyer requested 10 days after closing close, to take possession and move in.
Again Real Estate is the place where everything is possible, as long it is in writing and all parties involved agree to the terms.

Ryan Gussman, Realtor
Alter Wilson Real Estate
0 votes Thank Flag Link Sun Oct 3, 2010
It depends on what you agreed to in the purchase contract. Predominantly, the Buyer takes possession of the home at close of escrow, however you can always leaseback the property, if agreed to.
0 votes Thank Flag Link Wed Aug 25, 2010
Hello Deb,

Assuming your not a renter unless a "lease-back" where you lease the property after closing is negotiated and your not a renter you need to be out when escrow closes.

Best,

,

Monique Carrabba
The Carrabba Group
Keller Williams Hollywood Hills
mcarrabba@kw.com
(323) 899-2900
0 votes Thank Flag Link Wed Aug 25, 2010
Hi Deb, unless you have negotiated to the contrary, assume that you need to be out prior to close. Generally there is a walk through before close to "inspect" the property to be sure it is left in good order.

If you do need more time, then an option is to negotiate a "use and occupancy" agreement which essentially allows you to rent back the property for an agreed up on time.

Good luck to you,
Jeanne Feenick
Unwavering Commitment to Service
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Wed Aug 25, 2010
My concern for you is that you should have discussed this with your agent before signing the listing agreement- assuming that you owned the home. Are you a tenant or an owner? Was the property foreclosed and sold without you being a part of the agreement?
0 votes Thank Flag Link Wed Aug 25, 2010
Unless agreed otherwise, you need to be out by closing day--review the contract as the answer can be found in the document--what is your agent advising.
0 votes Thank Flag Link Wed Aug 25, 2010
Hi Deb, if the Buyer's Agent used the new CAR purchase contract you can review page 3, Paragraph 5 for your answer. This is where "CLOSING AND POSSESSION" is covered (defaults to 5PM the day escrow closes).

Best, Steve
0 votes Thank Flag Link Wed Aug 25, 2010
Hi Deb,

Look at the purchase contract. The buyer specifies if you need to be out at the day of closing or if they will give you a few days. As a seller, you can always counter and ask for more time, but this needs to be done before you sign the contract.

Good luck,

Karen Miller
(562)756-4144
0 votes Thank Flag Link Wed Aug 25, 2010
Unless you made other arrangements in the contract, you have to be out the day of settlement.
0 votes Thank Flag Link Wed Aug 25, 2010
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