Seller wants to sell his house. He has no money to move until after the closing. How do you proceed? Can there be two days or so granted to the seller after closing for him to get his stuff out?

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Rainmaker
939,888

Jeff Pearl

Realty One Group Capital / LIC in VA - Lovettsville, VA

Full Service Full Time Realtor

Ask for a 2 week rent back. seller will have to pay security deposit and daily rate of whater the buyers PITI is.

Jul 16, 2015 02:17 AM

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Rainmaker
5,210,292

Richard Weeks

Dallas, TX

REALTOR®, Broker

In TX we can do a seller temp lease. That would give them time to move out after closing.

Jul 15, 2015 09:52 PM

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Rainmaker
2,234,971

Debbie Laity

CinaJones Real Estate - Cedaredge, CO

Your Real Estate Resource for Delta County

You could have negioated a post occupancy agreement. I don't like doing this, but it may have worked in this situation.

Jul 15, 2015 01:22 PM

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Rainmaker
3,988,144

Debbie Reynolds, C21 Platinum Properties

Platinum Properties- (931)771-9070 - Clarksville, TN

The Dedicated Clarksville TN Realtor-(931)320-6730

Contracts are totally negotiable and that needs to be negotiated at the offer. I had a seller last year stay a couple of months and rent back for the buyer.

Jul 15, 2015 12:02 PM

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Bob Crane

Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI

Forestland Experts! 715-204-9671

That is one thing banks are for, get a moving loan that will be paid back with closing funds.

Jul 15, 2015 11:11 AM

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Rainer
150,769

Ed Macias

Real Estate Teammates - Miami, FL

Miami FL-REO Property Management Multifamily

Tell to take a mini vacation and stay in a hotel. I never advise a buyer to allow anyone to stay after closing.

Jul 15, 2015 10:50 AM

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Ambassador
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Carol Williams

Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA

Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Everything is negotiable. Talk to your Designated Broker for guidance on how to structure the addendum with terms.

Jul 15, 2015 08:51 AM

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Rainmaker
5,585,089

Barbara Todaro

Retired...Mentoring Newbies - Franklin, MA

Previously Affiliated with The Todaro Team

there could be with a large holdback to be forfeited if the seller is not completely moved out by a certain day and time..... can't draw blood from a stone....

Jul 15, 2015 08:36 AM

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Rainmaker
292,735

Jack Lewitz

Exit Strategy Realty - Evanston, IL

Your buyer should use a credit card and put his belongings in a haul truck or storage locker if he has not found alternative place to live and give power of attorney and move out on same day as closing .

Jul 15, 2015 08:33 AM

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Rainmaker
699,327

Chris and Dick Dovorany

Homes for Sale in Naples, Bonita Springs and Estero, Florida - Naples, FL

Broker/Associate at Premiere Plus Realty

Talk to your broker. There is always an addendum signed by all parties allowing for occupancy after closing.

Jul 15, 2015 08:23 AM

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Rainmaker
634,582

Kathleen Luiten

Resort and Second-Home Specialist - Princeville, HI

Kauai Luxury Ocean Home Sales

Yes but it can create problems so it's much better to get all personal property out before closing. Your Seller may have enough $$ to have things moved into a van and held overnight, or even into storage depending on his plans. Sometimes the payment for that can be delayed or the company will agree to be paid through escrow.

Jul 15, 2015 08:06 AM

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Ask for a 2 week rent back. seller will have to pay security deposit and daily rate of whater the buyers PITI is.
In TX we can do a seller temp lease. That would give them time to move out after closing.
You could have negioated a post occupancy agreement. I don't like doing this, but it may have worked in this situation.
Contracts are totally negotiable and that needs to be negotiated at the offer. I had a seller last year stay a couple of months and rent back for the buyer.
That is one thing banks are for, get a moving loan that will be paid back with closing funds.
Tell to take a mini vacation and stay in a hotel. I never advise a buyer to allow anyone to stay after closing.
Everything is negotiable. Talk to your Designated Broker for guidance on how to structure the addendum with terms.
there could be with a large holdback to be forfeited if the seller is not completely moved out by a certain day and time..... can't draw blood from a stone....
Your buyer should use a credit card and put his belongings in a haul truck or storage locker if he has not found alternative place to live and give power of attorney and move out on same day as closing .
Talk to your broker. There is always an addendum signed by all parties allowing for occupancy after closing.
Yes but it can create problems so it's much better to get all personal property out before closing. Your Seller may have enough $$ to have things moved into a van and held overnight, or even into storage depending on his plans. Sometimes the payment for that can be delayed or the company will agree to be paid through escrow.