Fgatogtx, Home Buyer in Chicago, IL

I currently live in a house that's a short sale and is closing next week. How long do I have to move out?

Asked by Fgatogtx, Chicago, IL Mon Dec 10, 2012

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18
Cindy Wilson, Agent, Chicago, IL
Tue Dec 11, 2012
Sounds like you'd better find a new place to live QUICKLY. It has nothing to do with when you can move into your new house. When your mother's house closes, you'd better be out of it, unless you've made arrangements with the buyers to rent it from them until your home is ready. It's not up to you or your mother...it's the buyer's home, as of next week. Better talk to your attorney and the buyers immediately!
1 vote
Fgatogtx, Home Buyer, Chicago, IL
Tue Dec 11, 2012
Some of you are not understanding my situation! I was set to MOVE already the hse we bid fell threw 2week AGO, and we found an other one and our closing is at the end of this month just want to know if there was some sort of extension option cause it really won't make sense for me to rent for 2 weeks and then move again being the that new buyer might already paided on his place threw December. I dnt know I'm sc@3wed I guess thanks for all your replys!
1 vote
Edith Karoli…, Agent, Winnetka, IL
Tue Dec 11, 2012
Well, usually once a property closes possession of the property changes from the current owner to the next..... Unless the contract states something different. It is always the written terms of the contract.
So have a look at the contract, consult with your Realtor, or contact a local Real Estate Attorney if there
are any doubts.

I am not quite sure why you would not know when you need to move out of the property, and why you would think that there is such a thing as HOW LONG DO I HAVE TO MOVE OUT..... You better figure this out quickly, because if possession of the new owners is on the day of closing, you need to hurry
to arrange the move and to find another place to stay.

I hope this helps...

Most Sincerely yours,
Edith
YourRealtor4Life and your Chicago
and Northern Illinois and RElocation Expert
Working always in the very BEST interest of her clients
@Properties North Shore
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1 vote
Fgatogtx, Home Buyer, Chicago, IL
Tue Dec 18, 2012
@Quality Mortgage Lending, Real Estate Pro in Bolingbrook, IL
So even after closing they have to get an order to vacate? Giving me 30 days? I really just needed bout 15 more days! I'm already out the house just needed that time so I wouldn't have to get a storage place and sleep at my in laws till our closing!
0 votes
Again, I would refer to a real estate attorney. Is this short sale a result of a foreclosure? If so, then yes. Even if not, in order to forcibly remove one from property, there is generally going to have to be an order from a court.
Flag Tue Dec 18, 2012
Riccardo War…, Agent, Bolingbrook, IL
Tue Dec 18, 2012
I suggest you get an attorney licensed in The state of illinois. However, after the closing, the lender will file an order to vacate. After that, you will have 30 days to get outta dodge,
0 votes
Bill J Delig…, Agent, Naperville, IL
Tue Dec 11, 2012
Talk to your Mother's attorney to see if there is a deal you can put together with the buyers to allow you to stay for another 2-3 weeks. If not, get ready to move ASAP.
0 votes
Ivan Sagel, Agent, Chicago, IL
Tue Dec 11, 2012
Are you a renter with a lease or the current owner? If you are leasing, your rights transfer to the new owner. If you are the owner, then you need to be out before the close.

All the best,

Ivan Sagel'
312.515.7823
Ivan@atproperties.com
0 votes
Ron Thomas, Agent, Fresno, CA
Tue Dec 11, 2012
GOOGLE: "The Tenant's Rights Act of 2009".
You should be visited by a Realtor representing the Bank soon.
0 votes
Joe Schiller, Agent, Chicago, IL
Tue Dec 11, 2012
you are trespassing as of the closing
0 votes
This isn't true Joseph. After the closing, the lender will have to go to court and get an order to vacate. Then, after that, he will have 30 days.
Flag Tue Dec 18, 2012
Maybe you should read the "Tenant's Rights Act of 2009".
Flag Tue Dec 11, 2012
Larry Scheid…, Agent, Chicago, IL
Tue Dec 11, 2012
Your Realtor and attorney should have talked to you about this a long time ago. Most houses sold even though the short sale process state in the contract that possession is given to the buyer at closing. Unless, another scenario has been set up that is typically the situation. I would contact your attorney and Realtor ASAP. Hope this helps.
0 votes
Sohail Salah…, Agent, Chicago, IL
Tue Dec 11, 2012
This all depends, have you been in communication with anyone from the bank?


Sohail A. Salahuddin | Founder

Innovative Property Consultants Group | Sales and Leasing

http://www.innovativepropertyconsultants.com



Jameson Sotheby’s International Realty

425 W. North Ave. | Chicago, IL 60610 


O: 312.335.3230 | C: 312.437.7799 | F: 847.805.6030

"Extraordinary Service For Extraordinary Lives"
0 votes
Philip Sencer, Agent, Chicago, IL
Tue Dec 11, 2012
What does the contract say about the buyer getting possession?? There is always a paragraph regarding that in the contract. Speak with your moms attorney.
0 votes
Jose Hernand…, Agent, Chicago, IL
Tue Dec 11, 2012
Doesn't sound like you have many options, talk to your moms attorney and your mom, maybe they can work out a post closing possession. This could be an issue with the buyer, resulting in a no closing and the deal falling apart. I'm sure you don't want to put your mom in that situation, specially if she's trying to short sale and avoid foreclosure.

Jose Hernandez
Coldwell Banker
0 votes
JIM Michaels, Agent, Chicago, IL
Mon Dec 10, 2012
Have you tried talking to your moms attorney about your move out date?
0 votes
Matt Laricy, Agent, Chicago, IL
Mon Dec 10, 2012
If there is no lease then you will have to move out at close.
0 votes
Fgatogtx, Home Buyer, Chicago, IL
Mon Dec 10, 2012
Thanks for quick replys! This is my moms house she put on short sale I was renting from her without a lease, were planning on moving out sooner but a house we plan on buying the short sale fell threw at the last minute cause the bank counter the selling price by 25,000. 3 months waiting for nothing and now we found an other hse and our closing is at the of this month was hoping to get an xtra 2weeks till then.
0 votes
Tom Kelley, Agent, Chicago, IL
Mon Dec 10, 2012
Are you the current owner or a tenant with or without a lease? If you are the current owner, you would most likely have to be out by closing unless there was an arrangement made through the purchase contract or separately that would allow for a post closing possession or other type of lease. If you are tenant with an existing lease -- typically, your lease would continue with the new owner until termination. Also, if you are a tenant, I would refer to the Residential Landlord and Tenant (RLTO) Ordinance or you might want to call about Rents Right, call the Chicago Rents Right Hot-line at 312/742-RENT (312/742-7368). I am not an attorney, nor have I seen any of the documents pertaining to the sale or lease. Of course, you should seek proper legal representation, if you feel there are any unresolved issues or potential problems with your living arrangements or your rights to your living space. Good Luck!

Tom Kelley
Real Estate Broker
Dream Town Realty
773-945-0130
Web Reference:  http://tomkelleychicago.com/
0 votes
Carol Verdic…, Agent, Scottsdale, AZ
Mon Dec 10, 2012
You have until the house is closed to move out unless you have made other arrangements with the current buyers.
0 votes
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