Just bought a home and there is no occupacy escrow or nothing set up to protect me against them not moving or paying the water bill. What to do?

Asked by Shay7373, Redford Township, MI Mon Dec 5, 2011

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3
Marco Gomez &…, Agent, Jackson Heights, NY
Fri Dec 9, 2011
When you set up the closing date your broker or attorney depending on who you use for the contract was supposed to set up a possession clause and also an escrow account if me if you are not taking possession of the day you close. What I would do is go back to the broker or attorney and make sure they straighten this issue out for you, otherwise you'll have to speak to an attorney.

Marco Gomez
NY state Associate Broker
Keller Williams Landmark II
Marco.gomez@gmail.com
0 votes
Joan Congilo…, Agent, Freehold, NJ
Tue Dec 6, 2011
Hi Shay Most real estate contracts have a provision in them that states that the home has to be vacant and broom clean at time of closing. Also if there are any outstanding unpaid bills against the house such as utility bills or unpaid taxes that will show up when a title search is done & those bills are usually liens that have to be paid before the closing can occur. You really need to have legal representation to assist you through the sales process and for your protection. So I would highly recommend that you consult with a real estate lawyer before you proceed.
Web Reference:  http://www.joancongilose.com
0 votes
Dan Tabit, Agent, Issaquah, WA
Mon Dec 5, 2011
Shay,
Do you have an agent? Your offer should contain all the protectors you need. If you are not working with an agent, get an attorney to review your contract and advise you immediately. There are a number of issues beyond the house and price which need to be considered and you need someone on your side that knows what they are doing.
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