Can they kick me out with 20 days in between the sale of my home and purchase of my new home?

Asked by Rmaharaj123, Colonia, NJ Mon Mar 18, 2013

I am selling my house and have a home sale contingency. I have stressed to my lawyer that I do not want to be kicked out of my house until I close on my new house. We have a 15 month old and need to stay in the house until we close on our new one. The problem is that the buyers of my house, with no reason at all canceled their lease and now have to be out on a certain date but the closing for our new home is 20 days after that date. Can they kick us out??? I thought this is why the lawyers put in the home sale contingency. I feel like the buyers bad move to cancel their lease is not my concern. That was their mistake and should not fall on me... Thoughts???

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Mary Petti, Agent, Edison, NJ
Wed Mar 20, 2013
I hate reiterating what others have said, but it's up to the attorneys to work this out.

While we all understand the issue with a 15 month old, I might suggest it may be worth your while to pay to put your things in storage, and move into a short term executive suite hotel till the closing rather than chance losing the sale of your home and potentially lose your purchase as well.
0 votes
John Sacktig, Agent, New Jersey, NJ
Mon Mar 18, 2013
Of course, your attorney is to handle this situation.

Speaking from experience, in reality, at some point did you to think the buyer could just cancel their lease at any time without financial recourse? A home sale contingency is not a "let me stay as long as I want" contingency. There has to be definitive dates involved. I would have advised the buyer to have a point in the contract where YOU pick up the tab for waiting for you after a certain date. It sounds as if there were some delays already and the buyer is at the point of no return.. what if the buyer had to renew their lease or move? Would you become financially responsible for the buyer signing a 1 year lease?

You need to understand that this home sale affects the lives of both and the buyer.

Either way, this is for the attorneys to work out.
0 votes
Edith Karoli…, Agent, Winnetka, IL
Mon Mar 18, 2013
Ok, let's take a deep breath, I undestand that having a 15 months old and being in this situation is stressful.... But nevertheless there is a contract on both ends of your deals, one for the home you own and you currently still live in, and the new home you are buying....

Now I am assuming that you did have an Realtor working with you for both ends of the deal, as well as
a good real estate attorney, and they hopefully put in the contract good terms related to the home sale contingency.... I feel and of course I do not have any of the contracts in front of me, that your home sale contingency is related to the the purchase of your NEW home, i.e. you cannot close on the new home
unless you sell your old home, to which the owners of your new home seem to have agreed to and even if they have there should be a time period in the contract, when that is reached and the owners of your
new home find another buyer, they will give you the chance to remove the home sale contingency or
THEY CAN TAKE THE NEW BUYERS!!!!!!

As far as your sales contract with your buyers goes, there should have been terms involved that
indicate what happens if at the date of closing you cannot be out of the home, which would mean you
would offer your buyers to pay for let's say renting a temporary place, store their furniture, in other words you basically rent back from them your current home, until you move out and they can move in.
It is my impression that you have not been fully educated about the various terms and problems that
could occur....

But remember we do not have the terms in front of us, go and sit down with your real estate attorney
and try to figure out what you can do at this time, to save the current buyers for your current home for
the next 20 days, there should be a way, but it will be financial and your buyers will have to agree!

Hope this helps
Good Luck to you

Sincerely yours,
Edith YourRealtor4Life & Chicago, North Shore & Northern Illinois Expert
Working always in the very BEST interest of her clients, Buyers, Sellers and
Investors alike....And always with a SMILE :)

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0 votes
Andrew Tisel…, Agent, Clifton, NJ
Mon Mar 18, 2013
Like others said
It is on the contract. Your attorney can tell you.
I can tell you this that if it is on the contract either way you risk loosing the buyers, but if they already are moving out, Where would they go? They would have to wait, because it could take longer to find another home.
0 votes
Rmaharaj123, Home Buyer, Colonia, NJ
Mon Mar 18, 2013
Thank you... I will speak to him today and see what he says.
0 votes
Laura Gianno…, Agent, Manahawkin, NJ
Mon Mar 18, 2013
This is a legal question that should be addressed by the attorneys involved. REALTORS can not give legal advice.
0 votes
Deborah Madey, Agent, Brick, NJ
Mon Mar 18, 2013
This depends upon the terms of your contract. Your attorney will be able to best address this as he/she will be able to respond based upon the specific terms for your contract.
0 votes
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