Should I ask owner to let me move in a week before closing?

Question

House has been empty 6 months. My house is sold and all loans and inspections are finished on both houses. The new owners are moving from 20 hours away, and have 2 kids. They want to take possession immediately after our back-to-back closings next Fri. Since the house we are moving into is empty anyway, what is the rule of thumb on this?

Answer 1

I have been in the business for almost 30 years and have NEVER recommended early occupancy. They can wait until they close. If all contingencies are clear just close sooner and they can move in. Early move-ins can backfire and cause issues that will often become very emotional. Close the deal in a spirit of good will and the extra week will pass faster. A lease back or rental can cause another escrow item that also can cloud the already huge mountain of papers you are about to sign. A mis-interpretation of those by the lender can create yet another issue. Keep the deal simple, close and own, then move in.

Answer 2

Sure, ask the Realtor to fill out a tempory leaseback form. That way, if something doesnt close then you will have a lease.

Offer your mortgage payment divided by 30 days, and offer that amount per day.

Pay upfront, and no need to offer a deposit.

Answer 3

It's an issue addressed via mutual agreement. You will have to get a signed addendum and bring it to escrow. Also, in case of a delayed or unsuccessful funding, you need to specify if there will be expectation of rent, security deposit, ect ect just like you would in a rental. I'd just wait, honestly.

Answer 4

Listen to Myron he knows what he is talking about. The homebuying process is not only complex but also riddled with potential pitfalls. Please wait until all the "T's" are crossed and "I's" are dotted and final walk through is completed before moving in.

Answer 5

absolutely you have nothing to lose by asking them if you can move in earlier the only thing they can do is say no. GOOD LUCK