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Asked by Stitch's Mom, Oregon Thu Jan 31, 2008

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Answers

3
Holly Futrell, , Chesterton, IN
Thu Jan 31, 2008
If you allow them to rent back once you own the home you are the landlord and responsable. My advice would be to allow enough time for them to move prior to closing. If you do decide to rent back to the sellers consult a real estate atty prior to doing so.
0 votes
Thesa Chambe…, Agent, Bend, OR
Thu Jan 31, 2008
since the tenant is the seller of sorts - if they do not leave - they are your problem - although your contract is where the answer lies to this. From the sounds of your question - YOU - agreed to the rent back - YOU would then become the landlord not the lender -
0 votes
Dirk Knudsen…, Agent, Hillsboro, OR
Thu Jan 31, 2008
The Buyer usually! Buyer beware right!

The Lender might do this if you have that as a condition. Otherwise they will want you to do that and of course Landlord Tenant Laws apply.

Be careful on this one and get an attorney if you need to. Sound slike you got a good value but this is a liable situation so get some good help!

Thanks

Dirk
Web Reference:  http://www.nwhomecenter.com
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