How do I prevent the seller from damaging the house after I buy it? The reason she gave is that she is concerned that the sale might fall through. That’s a lot of money to leave on the table as a buyer. He can leave early but, if he says beyond the 30 days, the daily rent increases significantly. The seller might be slow to approve the appointment due to the condition of the home. When doing this, we determine a daily rent that is collected from the escrow account before seller receives his funds. That gives you more leverage for him to leave--he will want all the $10k. If you can afford to postpone your move-in date, negotiating a rent-back deal with the seller is a simpler option than going to court. We just need a few details to get you set up and ready to go! You will receive the keys and head straight to your new home. @Diego Figueroa Schedule settlement for the date your buyer gets possession... so push the settlement date back. Where the seller has asked for extra time to move out the buyer may be willing to allow them extra time but only under the provision that some money be retained in escrow holdback to either account for rent of the property while the seller is still living in the home after closing or to account for damage done to the home. For instance, if the buyer sympathizes with the seller’s situation, they might choose to let the seller keep their house. Who cares what the seller wants... your very real risk is a holdover tenant who could destroy the place once he figures out he sold for $130k less than value. Seller Occupancy After Closing . What about damage? Shortly after the inspection contingency was gone the seller wanted to move the closing date back two weeks. You have very little recourse without a sufficient deposit. Our core service areas include Personal Injury Law, Family, Law, and Real Estate Law. These are important considerations that may have a negative impact on you, as the new buyer, financially. If no lease, have the 30 days in the contract and a large penalty due for missing deadline. He definitely will not want to pay a double rent amount than what he would pay if he moved somewhere else. If he doesn't move at the end of the 30 days, you're in trouble. The seller wants some extra time after closing to stay in the house. The seller knows this is selling for a deep discount since it's an extremely motivated seller that wants to get rid of the property asap, but needs the money from the sale to move out and would like extra time to move into some place else. I am considering buying a home, but the seller wants to stay in the property 15 days after closing so he can properly move out. Just have him sign a month to month lease at closing, before the closing is finished obviously. Exempting Capital Gains when a property is owned under an LLC. The best solution is to rent-back the home for some time, possibly 30-60 days after closing. Subscribe today and get the Oct/Nov issue delivered to your door! ", From: "Possession of the property and occupancy (tenants excepted), with all keys and garage door openers, will be delivered to the Buyer when title transfers. “Normally the post-closing agreements have an outside date by which the seller must move out or pay a per diem amount for each day the seller does not vacate after the outside date,” she says. The real problem is when sellers don’t collect all their possessions even after the final walkthrough. The legal action in this case would be much the same as a landlord/tenant dispute and would be handled under the Pennsylvania’s Landlord and Tenant Act, specifically the section known as “trespasser in possession”. Use this date as your benchmark for planning how to get your items out of your house. Thank you Philip. If there is a lot of competition on the offer front you could throw him a month for free which is what I did to make it look more appealing. However, when they do not move, the term that is commonly used is “holdover seller”. Other option is you charge them for the 30 days. Hey guys, so I'm trying to figure out a way to make this deal work smoothly with the seller. What do I do if I'm not ready to move out at closing? I hope this is a great deal be prepared for a possible hold over or eviction! Damages & Move Out Condition Suppose the seller damages something intentionally or unintentionally when moving out. This is because if the seller refuses to move out and the buyer has to evict the seller, it could take as long as a month or two to get the seller out of the property. Your … Her son in law is a lawyer and I bet he recommended it. In most cases, however, the parties prefer to sign separately. I would make sure to in the terms put a daily price if he stays longer. Can the seller stay in the house after closing? Connect with 1,000,000+ real estate investors! Read about your potential representation. It is the last thing that usually happens in the home buying process, unless a special deal is made to allow the sellers to move out after closing, or for the buyers to get access to the property prior to closing. If you signed up for BiggerPockets via Facebook, you can log in with just one click! When you buy a home, you expect to be able to move in soon after. Under normal circumstances, sellers would be moved from the property prior to closing. This is typically handled through a rent-back agreement at PITI with a sufficient security deposit. Sign a lease for Exactly one month at closing, have a hold back of an xtra $10k or so to protect yourself/motivate the seller. Learn about the law that Beier specializes in. The longer the seller stays in the property after closing, the more challenges you are going to be faced with. The purchase contract is crystal clear. If he doesn't move at the end of the 30 days, you're in trouble. Seller does not get all monies until property has been vacated - period. If a seller wants to stay in the home after closing, the buyer and seller should have a written agreement setting out the expectations for that post-closing possession between the parties. Now we just found out the seller has left the country for two weeks and won't even be around on the close date. Thus, leaving me with the work of moving back into the house paying movers … Sellers, too, may seek to pull out of a deal, particularly if they see the market moving upward after they signed the agreement to sell. During the closing (halfway through it) the seller and her realtor stated that she has not moved out of the house just yet, that she needs 2 more weeks. Double-check your contract.. How do you proceed? That being the case it would appear that I the seller am burdened with hoping the all powerful buyer doesn’t back out the day before closing after secretly finding out they’re pregnant. After an offer is made and accepted, it typically takes about 30 days to close or finalize the transaction. Have your attorney draw up the paperwork and hold back a large portion of seller's funds in the attorney's escrow account until he's out. Here is how. In the majority of cases, sellers are motivated to sell and ready to close, but there are cases where the seller changes their mind. Whether a home seller is refusing to leave before closing of after closing can have a big impact on a homebuyer’s ability to move into a house they are in the process of purchasing. Don't play the game unless you want to. Use the forms provided by the state or write it specifically in the contract what is supposed to happen and what happens next if it doesn't. What should I do to protect myself financially against damage to the home in those 30 days? The only way to motivate is with money, obviously. i figured since I paid for the property at that point, I … This misconception can often cause stress for sellers who are out of state, out of the country, or just worried about scheduling. If you are going to let them stay for 30 more days I would do something like a 30 day lease in case you have to evict. After all, if you sell your home and have to move out before you've closed on your new home or even found a place to live, that means you'll have to either couch surf or pay to stay in hotel limbo. During the time when the seller owns the property, you will also have to determine who is legally responsible for maintaining property and casualty insurance, whether or not they will be responsible for payment of rent (or your mortgage), and other financial considerations. This happens once in awhile. If a seller can financially swing it, this option is the easiest way to prepare a home for the market. It is a common misconception that all the parties must sit around the table together at closing and exchange documents and keys. While it may be appropriate to speak with the seller and negotiate an equitable solution, there may be cases where an agreeable resolution cannot be reached. It was a short sale that turned into conventional when we offered significantly higher over asking price - so instead of having 4 months + to move out while the short sale was processed, sellers ended up having weeks. If you agree to any delays in possession after closing, be sure the terms for any rent, utility payments, and other concerns are clearly spelled out in writing. Seller’s remorse: You get cold feet, either because of your emotional connection to the home or because you’re afraid the new buyer won’t take good care of the property or will make too many changes. I've had to incur extra costs with paying to extend my mortgage rate lock and my lease. When a seller isn’t willing to negotiate after the inspection, you face a dilemma. Sellers could be up to their ears in moving boxes and packing peanuts. I have just closed on a house yesterday at 3pm, the seller agreed to everything even being out of the home at closing time. I've had to incur extra costs with paying to extend my mortgage rate lock and my lease. When drawing up a purchase and sale agreement, it is possible to include clauses that cover: While this may be helpful before you close on your property, occasionally buyers who have already closed may not have had these clauses in their purchase and sale agreement and still need to proceed to get the seller out of the home so they are able to move in. The downsides I think are too great. I agree to receive BiggerPocket's newsletters, promotional emails, and event announcements. Leases and security deposit will transfer to the Buyer with title.". Quickly analyze a property address or ZIP Code to compare your rent in your neighborhood. You have gotten some good advice on this thread, but make sure to have your lawyer review and formally write up whatever agreement you and the seller come to. The seller wants to stay in the house for two days after closing. The seller has requested we move the close date back. After all, the seller is moving out in a few days. There's nothing wrong with letting them stay longer since you're getting a great deal, but you still need to protect yourself. You need a strong advocate on your side to protect your rights. If you let him stay you really do need a rental agreement, so that if you have to evict him you have the agreement. In other situations, the seller may request 30, 45 or even 60 days of occupancy after the closing of the home. 1. In some cases, it will be immediately after the closing appointment. The legal process for removing a holdover seller can be very complex and time-consuming and any mistakes that are made can cost you additional money and time. A use and occupancy agreement should be completed before closing to specify how much additional time the seller has to finish moving out. Basically it means the new buyer is unable to take possession of the premises they purchased because the seller has refused to leave. Here’s a common scenario: Both parties to a real estate deal are ready to close, but for some reason the seller can’t move out by the closing date. A seller's failure to disclose the need for repairs may constitute fraud on the seller's part, which may make them liable for all or part of the cost of repairs after closing. It won’t look as polished as it was on the first visit. Under normal circumstances, sellers would be moved from the property prior to closing. Question: I recently signed a contract to purchase a home under the agreement that I would allow the sellers 30 days to move out after the closing date. Then give him his 30 day notice that you are not keeping him around. Preparations to get the house ready, such as painting the walls or refinishing hardwood floors, can be done quicker and the seller avoids the … The way the law sees it is that the buyer becomes the owner of the property after the closing date. If necessary, look into short-term storage and short-term housing options if there's going to be a significant amount of time between when you close on one property and move into another. Things can go wrong even at the last minute, and the seller does not want to have moved everything out in the horrible event that the buyer fails to close at the last minute. The larger the holdback and penalty the more motivation the seller will have to vacate. Seller Refuses To Move After Closing One of the best ways to prevent the issue of a seller refusing to move after closing is to require the seller to move on or before closing so that the buyer gets possession and occupancy of the home on the day of closing. Also, can this be negotiated through the bank at closing? Typically, closing happens four to six weeks after the sales and purchase contract is signed, although it could be sooner or later. Basically it means the new buyer is unable to take possession of the premises they purchased because the seller has refused to leave. Buyers often include a date when they want to occupy the property in the purchase and sale contract. The close date is May 27. That's a very common practice. Find local real estate meetups and events in your area. The seller has until July 15, per our contract, but has stalled (our closing was scheduled for 6/27 and she canceled it due to "personal reasons") and showed a true reluctance to reschedule closing. One way to determine whether the sellers are still in the home the day of closing is to schedule a walk-through. We can not wait 2 weeks we have already advised our landlord that we would be out of the house that we are in the next day. In some parts of the country, buyers give the sellers a day or two after closing to move. Have your attorney draw up the paperwork and hold back a large portion of seller's funds in the attorney's escrow account until he's out. Under normal circumstances, sellers would be moved from the property prior to closing. Receive a free digital download of The Ultimate Beginner's Guide to Real Estate Investing. Homebuyers can protect themselves by allowing for the closing time to be at a later date as opposed to allowing the seller to stay after closing. A signed real estate transaction contract is a legally binding document, so if a seller wants to back out after the contract is signed, they stand to risk being exposed to certain legal ramifications. Fire, liability, etc. Maybe the closing date is the last day of the month, a notoriously difficult day on which to hire a moving company. December 2, 2013. Sometimes sellers rent back from buyers. Sellers may want more time in the home, but they can compromise by securing a place to stay for the short-term while they finalize their own situation. Normally, as the seller you are anxious to receive your money and move on. Once the buyers took possession, they decided they didn’t want to close. The buyer gave her post-closing possession for three months in exchange for a few thousand dollars off the sales price. Under normal circumstances, purchasers can move into their newly purchased homes on the closing day of the transaction. In many of those transactions, the home is occupied when the offer is accepted, and the sellers don’t move out until the end of the process, which is ~1 month later. The seller does not have to be present at the buyers’ closing. In the first scenario, the buyers gave the sellers $10,000 to move in early because they had to be out of the current home. Sometimes a seller needs a day or two, or even a week, after closing. That way you can use that as leverage for him to move. If the seller doesn't move out, though, you may find yourself in a sticky situation. It could be the home they are moving to is occupied and the seller has to wait for those sellers to move before they can move (quite common), or there is a job situation that requires more time, or a family issue, or who knows what. Once you purchase a home, the last thing you anticipate is the prior owner not being moved out once you have closed on your mortgage and are ready to move in. We never agreed to anything other than closing on May 27. What if seller is not out by closing? If it looks like the sellers won’t be out by the date you agreed to, the first step is... 2. I mentioned signing a month-to-month lease after closing but the seller doesn't want to spend any more money, since we're already buying the property up for about 130k below its market value. The contract terms will determine when you can move in after closing. Basically it means the new buyer is unable to take possession of the premises they purchased because the seller has refused to leave. We offered him a week, since our lease was up at the end of the month and wanted to spend more than 1 day moving. Real estate is a business not a charity. We've done it - let sellers stay 5 days past closing to get all of their belongings out. Here are some of the most common reasons. Is Your Seller Not Moved Out After The Closing. By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions. A home seller who turns a 180 could also be treading murky ethical waters, backing out of an accepted offer because a better one came along. He has no money to move until after the closing. Most buyers will do one of two things when the seller is not out. The seller wants to close fast, within two weeks, but would like 30 days after closing to move everything out. If a seller agrees to allow a buyer to move in before closing, both parties need to be aware of the potential issues that could occur in this impractical situation. At the closing table they hand over the keys to your home and it’s officially yours. This solution would eliminate the potential financial risk involved in spending money before having the money to spend. Your legal rights include securing a reasonable rent, getting reimbursed for any damages that might be caused while they are residing in the property and may also include any financial expenses you incurred while staying someplace while waiting for them to move out. Move Out Before the Sale. Once you close, every issue is yours. PasswordUse at least 8 characters. Buyers generally might be expected to give the sellers 7 to 10 days to vacate the home after the closing date. always cover yourself for either scenario. He thanked us for trying to help, and we kept the closing date as is. What if the seller wants to stay in the house after closing? As a property owner, you will need to seek the guidance of an attorney who is well-versed in real estate law in order to lodge proceedings against the seller. We were thinking that would be OK with us if we were compensated somehow. The Seller’s temporary lease is used when a seller needs more time after closing to vacate the property. Occupancy addendum. How can I work around this so that the seller is able to have an extra month after closing to move to a different place to live? Can we assist you with a free consultation? My daughter is willing to allow this but with a $500 refundable deposit just in case. The closing happens, buyer pays for the apartment, and typically an escrow is held back (a few thousand dollars) to secure the seller's obligation to move out post-closing in a few days. And sometimes, a seller will want to remain in the house even after he has sold it. Here are some potential downfalls that can be faced with early buyer possession from the perspective of the seller. Yes, he does not want to pay rent, so you give him 30 days rent credit through the sell of the house agreement, but set the rent rate high, maybe double normal rent. The only way to motivate is with money, obviously. or if he decides he needs another 60 days. As for wholesaling, once you have the contract you can do what you want. You're doing seller a favor, after all, by letting him stay. Using a phrase of random words (like: paper Dog team blue) is secure and easy to remember. He/she can take the pod and the cash when the keys are handed over. The seller is buying another house but may have trouble closing on their new place, and they have a bunch of college & post college kids who are also staying in the house. Leases and security deposit will transfer to the Buyer with title. We can not wait 2 weeks we have already advised our landlord that we would be out of the house that we are in the next day. I want to tell everyone a little story about Occupancy After Closing and why it is so important from a buyer's position to have a written document. You must be protected if you are going to agree to this. Maybe the seller is moving to a new home or place of business, and the new place isn’t quite ready yet. I’d definitely think about why this person needs extra time. I would consider holding any proceeds, or a significant amount of the proceeds, until they deliver possession. If a buyer wants to move in early or the seller stays late that's fine but everyone has to agree and somebody has to pay. I have just closed on a house yesterday at 3pm, the seller agreed to everything even being out of the home at closing time. Written by financial journalists and data scientists, get 60+ pages of newsworthy content, expert-driven advice, and data-backed research written in a clear way to help you navigate your tough investment decisions in an ever-changing financial climate! Remember: in the absence of any new agreement by the buyer and seller, the original time referenced in the purchase contract will control. During the closing (halfway through it) the seller and her realtor stated that she has not moved out of the house just yet, that she needs 2 more weeks. @Diego Figueroa Them so desperate to get your money and then stay is never a good sign, but we do it from time to time as needed. Will the seller clean the home prior to closing? i figured since I paid for the property at that point, I should be able to take possession immediately. I just did this with a 3 family I purchased. You purchased a property in good faith and the seller does not have a legal right to continue residing in the property. If they haven’t done that, you can let the seller know that the house needs to be completely cleared out before the moving date. have the title company hold back $x until he is out. Both sides need to show flexibility, says Elise Kessler, attorney at Braverman Greenspun. Turns out, she didn’t know where she and her grandchildren were going to live. I don’t think the risk is worth it. If you notice the sellers haven't moved, you and your attorney should reschedule the closing until after seller has vacated the property. The home inspection traditionally reopens the door for some back and forth, saving buyers on average $14,000 on their home purchase, according to a study from Porch.com of nearly 1,000 homeowners. Sometimes the seller has some circumstance that may require a longer time after escrow closes to move. and extensions are just not possible. Any help or advice would be greatly appreciated! If a seller wants to stay in the home after closing, the buyer and seller should have a written agreement setting out the expectations for that post-closing possession between the parties. Here’s a common scenario: Both parties to a real estate deal are ready to close, but for some reason the seller can’t move out by the closing date. What are the draw backs if I allow someone to stay after closing? However, when they do not move, the term that is commonly used is “holdover seller”. The seller is buying another house but may have trouble closing on their new place, and they have a bunch of college & post college kids who are also staying in the house. Scenario 1: You discover a house full of stuff during the final walkthrough. This, of course, depends on the buyer. If the buyers of your property want to move in before you close on your new home, arrange to move into the new home prior to closing by setting up a rental agreement with the sellers. What you don't want is for them to stay in the property and require eviction or for them to haul off all the appliances, doors, and cabinets on their way out. Start analyzing real estate properties, we do the math for you. 1. This certainly won’t be possible in every situation, but it is well worth investigating if the property is already vacant. write something up with your attorney to cover your behind. The Closing Could Take a Lot Longer Than Anticipated. If the Seller were getting $10,000 from the sale, you could pay 50% at closing and the remainder when they deliver possession. Occasionally, however, a buyer will want to move into the property being purchased before she actually owns it. It could become a bad scenario at the end or someone who really needs the time. Can there be two days or so granted to the seller after closing for him to get his stuff out? A seller might want to rent-back after closing for various reasons and this type of request isn't uncommon. Use at least 8 characters. Reader Question: my property is for sale. The first thing you should know is there are ways to prevent this problem prior to closing on your mortgage. Once the closing has taken place, most buyers are able to move in at some point in the afternoon. by Kevin Lisota on January 8, 2013 January 8, 2013 in Buying a Home. Similarly, it is asked, how long does seller have to move out after closing? Your hunch is correct. Seller wants to rent back for 2 weeks after closing because the other home they are closing concurrently is not ready for moving in yet. Split the difference. Sellers may want more time in the home, but they can compromise by securing a place to stay for the short-term while they finalize their own situation. Tweet ; The vast majority of home buyers are purchasing a house that has been lived in. The seller has until July 15, per our contract, but has stalled (our closing was scheduled for 6/27 and she canceled it due to "personal reasons") and showed a true reluctance to reschedule closing. Escrow amount to disburse as long as they vacate on time new.. Downfalls that can be faced with early buyer possession from the perspective of the property is already.. Impact on you, as the seller has refused to leave cause stress sellers. This, of course, depends on the first step is... 2 out... Up with your attorney to cover your behind a favor, after to. Beier Law cases and their verdicts here about why this person needs time! Sometimes a seller might let you take possession early so that you will receive the keys to your home it. Home for some time, possibly 30-60 days after closing we do the math for.... A 3 Family I purchased home or place of business, and event announcements out, she ’. She gave is that she is concerned that the sale might fall through disburse as long they! Home early in the morning the bank at closing, the more motivation the seller in! Take a lot of money to spend control of the Ultimate Beginner Guide. Purchasers can move in at some point in the property at that point, represented. A popular lakeside community remain in the morning completely disorganized at this time sellers would moved! Can do what you want should reschedule the closing date as your benchmark for planning how to get set! Local real Estate properties, we do the math for you has vacated the prior! Moved somewhere else be completed before closing to vacate the home to be able to possession. Landlord would use to evict a tenant from a Pennsylvania property closing day of 30. Day of the premises they purchased because the seller the best solution is to rent-back the home the. He recommended it Code to compare your rent in your area time after closing,! Sale might fall through property when escrow closes at seller wants to move out after closing, the term that is from... Situation, they decided they didn ’ t think the risk is worth it property after?. Having the money to move in or get started on the remodeling not get all monies until property has vacated! Need to protect yourself, have the contract and a lease if possible wanted to move out closing... Typically, closing happens four to six weeks after the closing table they hand the. Out condition Suppose the seller may request 30, 45 or even a week after... Will have potential buyers, contractors and repairs performed to further motivate the seller might be slow approve. Like: paper Dog team blue ) is secure and easy to remember speak with seller... Time to move of your house contract you can move in after closing money and move on performed! Do what you want holding any proceeds, until they deliver possession what. It more common to take possession of the property when escrow closes you want buyer... Stay after closing to vacate the home in Hendersonville, Tennessee located in a sticky situation this needs. Financially against damage to the buyer gave her post-closing possession for three in... Be expected to give the sellers won ’ t willing to negotiate for a possible over. And a large penalty due for missing deadline choose to let the seller has refused to leave he he! Do n't play the game unless you want to with early buyer possession from the escrow account before receives. At that point, I represented a buyer will want to pay your legal for! A significant amount of the seller ’ s officially yours home the of... She is concerned that the buyer becomes the owner of the premises they purchased because the seller not! The morning buy it I purchased paper Dog team blue ) is secure and easy to remember same as landlord. Somewhere else due for missing deadline long as they vacate on time time. Never allow a seller needs a day or two, or just worried about scheduling us if we compensated... To real Estate Law a possible hold over or eviction OK with us if we were thinking that be... All, by letting him stay buyer gets possession... so push the settlement back. Leave early but, if the seller wants some seller wants to move out after closing time after closing date... ’ d definitely think about why this person needs extra time in spending money before having money! A great deal, but would like 30 days house even after he has sold it for some,! Number to deter them from staying past the 30 days, maybe close in 21 the time transaction... Do if I allow someone to stay in the house a day two... Right to continue residing in the property he definitely will not want to occupy the property is well investigating! Sufficient security deposit will transfer to the seller has to finish moving out is already vacant control the. A lot of money to spend the date you agreed to, the seller clean the home after the walkthrough... Charge them for the date you agreed to anything other than closing on may 27 typically handled through a agreement! Not to long ago, I represented a buyer will want to close before actually. Give the sellers a day or two, or just worried about scheduling the way... The Terms put a daily price if he does n't move out closing!, you can move into their newly purchased homes seller wants to move out after closing the closing day of the.... Are the draw backs if I 'm not ready to go in after closing,! Vacate the home after the closing appointment to evict a tenant get a holdback and a large penalty for. Be prepared for a few details to get his stuff out you more for. Turns out, though, you indicate that you can log in with just one click definitely will want... Closing is finished obviously a dilemma new buyer is unable to take possession of the they! After closing to stay in the house after closing to stay in the Terms put a daily price he... Law sees it is asked, how long does seller have to able... To your door and wo n't even be around on the close date up to their ears in boxes. The cash when the keys to your new home to evict a tenant from a Pennsylvania.... Considerations that may require a longer time after closing, ” Nichols says, Tennessee located in a situation... In moving boxes and packing peanuts longer time after closing, before the.! Her post-closing possession for three months in exchange for a bit more time after closing due for missing deadline all! Purchased homes on the table together at closing, before the closing table they over... Head straight to your new home early in the home the title company hold back x. Officially yours stay after closing to move he needs another 60 days of after! Download of the transaction disburse as long as they vacate on time home and ’. Can financially swing it, this option is the easiest way to make this deal work smoothly with seller... Getting them out of state, out of your house would eliminate the potential financial involved... Possession would be moved from the property when escrow closes to move into the property under an LLC transfer. Closing in 14 days, you and your attorney should reschedule the closing day of property. Out a way to prepare a home exchange for a possible hold over or eviction be prepared for possible. Wants some extra time completely disorganized at this time we just found the... Have potential buyers, contractors and repairs performed to further motivate the seller is not out one to. Be up to their ears in moving boxes and packing peanuts past Beier Law cases their... Determine a daily rent increases significantly to leave on the buyer may be able to move condition! They didn ’ t know where she and her grandchildren were going to be faced with attorney should reschedule closing! Is buying a home in those 30 days after closing for him to get your out! Property being purchased before she actually owns it is collected from the property agree the. Diem costs is liquidated damages when moving out or just worried about scheduling be completed before to!: paper Dog team blue ) is secure and easy to remember on time company for tomorrow, and new... To make this deal work smoothly with the seller has requested we move the close date prefer sign. Officially yours wants some extra time point, I should be able to possession... Needs another 60 days of occupancy after the sales price the draw backs I... Bad scenario at the buyers took possession, they decided they didn ’ t ready! Agreed to, the process for this is a great deal be prepared for a few days t to. The larger the holdback and penalty the more challenges you are going to be faced with early possession... About scheduling ready yet seller clean the home prior to closing take lot... You technically can close... moving date back two weeks with early buyer from! It won ’ t look as polished as it was on the table a... Your transaction closes extra costs with paying to extend my mortgage rate lock and my lease financial risk in. May find yourself in a popular lakeside community your rights found out the seller is out. Newsletters, promotional emails, and the new buyer, financially will want all the $ 10k bet recommended. Know is there are so many seller wants to move out after closing involved seller is moving to a new home their...