I am closing on a house on Friday. The buyer wants to move into my house in the morning even though the closing is in the afternoon. Is this acceptable?
2007-02-16 07:32:01 · 10 answers · asked by babs 1 in Business & Finance ➔ Renting & Real Estate
Most of the time No. I am a licensed Realtor in Illinois, and would not recommend it. Talk to your attorney, but he will probably advice you of the same. Say the buyer moves in and something goes wrong at the closing, who knows what, the money is not wired to the right place, the mortgage is not complete for whatever reason, or buyer gets hit by a car on the way from your house (after moving in) to the title company. If transaction fails it is bad enough without any of complications related to the fact that buyer's stuff is already in the house. Tell them no, if they want to move in in the morning, have them schedule closing at 7 or 8 o'clock in the morning.
2007-02-16 07:38:15 · answer #1 · answered by Alexander K 3 · 2⤊ 0⤋
Absolutely not. I've been a real estate agent for 15 years. The liability for you is too great. You don't want the buyer in the house until after it closes.
Speaking stricty legally the buyer shouldn't get the keys until the lawyer has recorded the title at city hall. They usually get the keys at the closing, but if you waanted to be a stickler for the law you wouldn't turn over the eys until after recording.
2007-02-16 11:41:59 · answer #2 · answered by ENI 2 · 1⤊ 0⤋
The title company will get recording numbers for the deed in the afternoon. That should be when the buyer moves things in.
The closing is not scheduled for a time-- you should ahve both gone in and signed before now-- it just takes a bit for the title company to get all the paperwork to their respective parties. You can give the keys to the title company and they can give them to the buyer when they get the recording numbers.
2007-02-16 09:23:41 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Buyer can move in whenever you agree. It is usually advisable though to wait until settlement has been completed because if it falls through your house is now occupied. Getting them out again could be difficult.
2007-02-16 07:36:48 · answer #4 · answered by chekeir 6 · 2⤊ 0⤋
Even if they want to, my advice is to not let them.
What happens if they can't close that afternoon. Now all their crap is in your house still.
Don't let them move in until you have the check in hand.
El
2007-02-16 11:50:22 · answer #5 · answered by El_Nimo 3 · 1⤊ 0⤋
They can't legally move in till ownership is transferred-- that happens at closing-- but if you are open to it, you could always rent them the house prior to closing. Just run it under a separate contract, establish a daily and hourly rental rate, and leave it open-ended so if your closing is delayed, they have to pay rent every day.
2007-02-16 07:37:55 · answer #6 · answered by dcgirl 7 · 0⤊ 1⤋
you could inquire in case you could lease the valuables. yet in view which you're dealing with a foreclosures it is going to take consistently to get an answer. One might could ask, in case you haven't any longer closed, how is the non-public loan funded? realtor.sailor
2016-09-29 05:09:41 · answer #7 · answered by ? 4 · 0⤊ 0⤋
NO! Let's say they move in and then tell you at the closing they will pay $5,000. less because the place needs paint. What can you do?
2007-02-16 07:36:11 · answer #8 · answered by Anonymous · 2⤊ 0⤋
Make sure the closing is finished. This way there won't be any surprises.
2007-02-16 07:35:02 · answer #9 · answered by Sugar 7 · 2⤊ 0⤋
I'm sure it's not a good idea. They can wait a few hours.
2007-02-16 07:36:10 · answer #10 · answered by Katie L 3 · 1⤊ 0⤋