My mother in law is selling one of her homes that is in another city. The final papers have not been signed and no money has exchanged hands. It had been agreed that we would have the house empty 6 days after closing. Now the real estate agent has called my mother in law and told her that if the house is not empty in two days that the deal is off! And gave her 1 hour to decide!! Can they do this?? Why would we do that if no papers are signed? They could back out anyway. This is a fully furnished 4 bedroom 2 bath home so it is going to be a major move! What can we do??
2006-08-21 04:44:20 · 15 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
If they stated it on their offer, where the closing date was also decided on, then no they can't change it and they are locked in if your grandmother accepted the offer. If there has not been an accepting of th offer, then yes, they can say move it out or we don't want it.
It is hard for inspectors to do a good inspection of somethings with stuff in the way. There are pannels they want to get into that people often block off and such.
2006-08-21 04:53:13 · answer #1 · answered by Anonymous · 0⤊ 1⤋
More than likely, the buyer agreed to the 6 day wait without doing their homework. Now that they have realized the house is theirs at closing, they are not willing to spot you the time after that to move.
Have you made an offer to rent the home for the days after closing? At closing, the house is transferred to the new owners. They are probably in the process of moving as well and will have someone else living in their new home (you) once they sign the papers.
Everything is negotiable - so be nice and cooperative. Otherwise you may lose this deal, and it could be months!!! before another one comes along.
Good luck...
2006-08-21 13:09:36 · answer #2 · answered by Anonymous · 0⤊ 1⤋
If you have an agreement that explicitly states posession 6 days after closing then they can't do that. If they backed out of the deal, you'd be fully within your rights in retaining the earnest money.
If you only have a verbal agreement for that occupancy you need to review your agreement to see what it says. Typically it states, "Posession at closing" which means you must be out of the home prior to the actual closing. That can be 5 minutes prior to closing or 5 weeks; it's up to the seller.
If the buyer wants the property empty at any time other than just prior to closing the normal procedure is for them to sign a short-term lease pay rent for the time between taking posession and closing. Again, this is an item for negotiation between the parties.
At any rate, you need to refer to your signed purchase and sales agreement as it spells out the only valid terms of the agreement between the parties. Oral agreements are not enforceable.
Normal practice is posession at closing absent any specific written agreement to the contrary. If you are not out by closing the buyer can evict you. I actually had to do that once.
If the buyer backs out of a deal for reasons other than those specified in the contingencies section of the agreement your normal recourse is to retain the earnest money as liquidated damages. Most agreements specify that as your only remedy though a few may provide for suit for specific performance.
2006-08-21 12:13:08 · answer #3 · answered by Bostonian In MO 7 · 1⤊ 0⤋
A signed purchase offer is a binding contract and they cannot back out of the deal based on unreasonable demands to empty the contents of the house for their convenience. If the realtor is trying to "sidestep" the contract you should report the realtor to the broker at the company he/she works with and to the local Board of Realtors. If there is nothing in writing tell your mother-in-law to tell the realtor that she will not sell the house to those people and will not deal with any buyers he/she may try to bring to her in the future. Is your mother-in-law an elderly woman? If so, they could be trying to take advantage of her because of that. That's just WRONG !
2006-08-21 12:12:40 · answer #4 · answered by worldhq101 4 · 0⤊ 1⤋
Whole deal sounds flaky right from the start.
NEVER make any verbal agreements. NEVER.
Never accept an offer without earnest money.
If it was me, I would tell the buyers to go (shame on me) themselves and re-list the house. I would also file a formal grievance with the local licensing board against the realtor for passing along that demand; he should have told the buyers that such a request was unethical and depending on location possibly illegal.
2006-08-21 13:20:46 · answer #5 · answered by Gitchy gitchy ya ya da da 3 · 1⤊ 0⤋
Tell them to sign the papers and you will have everything out in the two days.
I do not know where you are located, but I think everyone has to agree upon a move out/in date. They can draw up paper work that puts a contingence on the deal if all conditions are not met the deal is off. They still have to sign the paperwork though.
2006-08-21 11:54:20 · answer #6 · answered by UOPHXstudent 4 · 0⤊ 1⤋
According to your contract, you have 6 days, they cant decide to change that without it being in writing and agreed upon bu both parties. Tell them you will hurry as fast as you can once the deal has closed, but tell them to back off. They cant pull out of a deal because of something they already agreed upon. Call their agents broker and let him know what his agent is doing and saying. Be decent and nice and ask them to respect your feelings as well.
2006-08-21 12:32:39 · answer #7 · answered by Anonymous · 0⤊ 1⤋
1) The other side cannot alter the contract without your consent.
2) They can walk if you don't agree, BUT
3) You may have the right to keep their deposit.
Have all the contingencies expired? If so, they're bluffing on the quivalent of a busted flush. On the other hand, the escrow company won't just give you the deposit, and you may have to go to court to get it. Read your purchase contract for the way that works.
More here
http://www.searchlightcrusade.net/posts/1141256816.shtml
2006-08-21 12:22:26 · answer #8 · answered by Searchlight Crusade 5 · 0⤊ 1⤋
from what you are saying is their is a verbal offer on the table, from the buyer Realtor to seller Realtor but no signed offer from buyer?
How long has the house been on the market, are you desperate to sell? if not tell them no, if you must sell say OK to move within two days but require a major non-refundable deposit so if they back out you can re-coop your monies spent on moving everything out
2006-08-21 12:15:45 · answer #9 · answered by goz1111 7 · 0⤊ 1⤋
sure they can do what they want... its a country of freedom for crying out loud. However, you have your right also. They call it off, you take their deposite. When they make an offer, they did provide a deposite right? If they changed their mind, just cash the deposite as if it was the "processing fee." If you went to court for this, I am sure judge will favor your side
2006-08-21 12:52:15 · answer #10 · answered by ucsdhappyasian 2 · 0⤊ 1⤋