I heard it was three days from closing. I am not sure though.
2006-09-11 11:36:57 · 17 answers · asked by axlvtt 2 in Business & Finance ➔ Renting & Real Estate
Depends on the conditions as outlined in the sales contract. In some cases a rental agreement can be set up, if the new owners don't need to move in right away (or bought it for renting it out)
2006-09-11 11:39:39 · answer #1 · answered by Anonymous · 1⤊ 0⤋
I don't know who told you three days--your butt needs to be out, technically, once the buyer signs the final closing documents. Legally the house is now theirs, and with no prior rental agreement you would be trespassing, technically.
However, you can do a sale and leaseback, but this needs to be discussed well in advance of the closing with the buyers so that they don't go and schedule a moving truck to show up on the day of the closing.
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2006-09-11 22:55:00 · answer #2 · answered by Paul M 2 · 0⤊ 0⤋
Depends upon what was negotiated in the purchase contract. If you didn't specifically negotiate an extension, default in most places is that you have to be out that day.
Taking care of all the not so little details like this is what an agent is for. It would not hurt to see if your buyer will give you a rental for a few days, but it's at their discretion. If they want to charge you $2000 per day, they probably can.
2006-09-11 18:52:53 · answer #3 · answered by Searchlight Crusade 5 · 0⤊ 0⤋
Unless there is a provision in the contract, once you close, the new owners can move in (and you out). However, most people realize nobody can move in a day. Talk to your buyers and see if you can stay a few days.
2006-09-11 18:43:52 · answer #4 · answered by Jill&Justin 5 · 0⤊ 0⤋
You need to read your purchase and sale. You are required to leave on day of closing and turn your keys in.
UNLESS you negotiated for 3 days in the p&S, you have to move out that day.
i NEVER reccomend that a buyer allow a seller t stay...becuase now you own a home and someone else is living in it, and if they damage the home you're basically screwed, becuase you have no leverage.
2006-09-11 19:35:37 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Once you sign the papers - the house is sold. I don't think you can stay legally. At least not in my state (New York). However, everything in life is negotiable. If you need to stay longer, you may be able to work out a rent arrangement with the new owners, if they are agreeable to that.
2006-09-11 18:43:06 · answer #6 · answered by Angie 6 · 0⤊ 0⤋
Unless you have something in the contract you have to move out
immediatly. If you stay, you can legally be charged rent by the new owner for each day you stay.
2006-09-11 22:13:00 · answer #7 · answered by d b 3 · 0⤊ 0⤋
When you close the house is no longer yours, if you stay longer you'll need an agreement and should expect to pay rent for those days. At least that's hows I remember it (a few years ago for me)
2006-09-11 18:43:05 · answer #8 · answered by madjer21755 5 · 0⤊ 0⤋
It depends on what is written into the purchase agreement. Most times, it's 24 hours after closing. But different areas could do things differently. What does your contract say? If you can't find it, ask your realtor.
2006-09-11 18:43:34 · answer #9 · answered by Alterfemego 7 · 0⤊ 0⤋
i believe you need to be out the day of the closing unless it is written into the closing documents as a later date. you may also be able to work with the buyers on a later date.
2006-09-11 18:39:49 · answer #10 · answered by kristen t 3 · 1⤊ 0⤋