Asked by Michael Kuck, st marys, OH • Tue Jun 28, 2011
Isn't it better to have the possession be 10 or 20 days after closing? In that way the seller can know definitively that the closing will happen, and can then make a safe relocation. For a seller to offer possesion at closing he, she or they must move out before closing, and if the deal falls apart, what protection is offered the seller? Deals do fall apart at the last minute on occasion, even after the buyer has received formal loan approval. I'm interested in some feedback on this point. In our area the possession is typically offered some days after closing for homes that have been occupied, but in many areas it takes place on day of closing, which I would think to be risky for the seller, and could possibly create a liability issue for buyer and Realtor. I would appreciate some feedback on this subject. Thank you
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