Asked by Ewiz, Salt Lake City, UT • Mon Jun 27, 2011
We've received an approved price and want to move forward on the short sale but in order for the seller to sign the bank agreement he wants us to allow him to remain in the home for 30 days after closing. Our realtor has put in the paperwork that the seller will vacate the property 30 days after closing. Is that enough to cover ourselves? My concern is...when the 30 days is up, how do we make sure he actually leaves to property? We've thought of getting a $5000 check from the seller and we will give the check back if he leaves the property when the 30 days is up, but I don't know if that is all we can and should do. Also, we were told by our realtor that a rental/lease agreement would make it more difficult for us to make him leave after the 30 days is up because then we would have to go through eviction. If we don't rent we can basically kick him out after 30 days if he hasn't already left. Is this true? Any advice on what to do????
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