The people selling us our new home have requested to stay for 15 days after closing. What should we do?

Question

We are trying to close on our new house next Friday. When we first signed the contract on the house (about 6 weeks ago) the sellers wanted to keep possession for 15 days after closing. Because we need a place to stay in the new town we are moving to, we said 'no', and that possession would need to be at close or there was no deal. They signed the contract with possession at closing.

Now they are saying they can't be out for 15 days after closing. And they say they never agreed to possession at close. They say they need the money from the house sale to renovate their new place. And apparently their family won't be around to help them move until the holidays are over.

We plan to tell them we can help them move, give them 4 thousand dollars now and help them find storage space, but __we need possession at closing__. And if they can't do that, we want $200 per day that they are in our house after closing (for hotel, meals out, storage space, insurance, etc).

Is this reasonable?

Answer 1

Well, if they say they did not agree to the terms that you specified, then refer them to the written contract.

Do you have agents involved to help work this out?

In terms of per diem amount, a "reasonable" amount would be the daily amount of your new loan, but it does come down to whatever is agreed upon.

Good luck!

Answer 2

Yes, this is reasonable. We were in the same situation when we bought the house we're in--24 years ago!

You may need to hire a real estate attorney, if you don't already have one to perform the closing. What does the sales contract say? If it is silent about when possession is to occur, you should ask the attorney what the assumption or precedent is in your area for this. I forget what our sales contract said, but it was clear that possession at closing was the norm. We had the attorney send the seller a letter saying that she had to vacate at closing or else pay $200 per day--or we may even have demanded $500 per day. She backed down and vacated, and we closed on the house on time .

It's nice of you to consider offering to help the sellers, but I suggest you consult the attorney first to see whether s/he thinks that offering is a good idea.

Good luck!

Answer 3

reasonable? yes. will you get it? questionable.

you need a real estate attorney in the area where the house is.

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Usually, the wording of the sale agreement is final on all such issues. If they signed the thing to be out at closing, you have the right to rely on that and the right to damages if they are not out.

Plus, you may be able to petition the court for an emergency eviction order. [which takes about 5 days to get.] This is what the attorney is for.

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btw, $200 a day likely isn't enough. check with your movers to find out what the daily storage charges will be. Then add your temporary lodging costs. Then add some for meals and incidentals since all of those cost more when away from your personal residence.

Plus the attorney's fees.


GL

Answer 4

They are in breech of their contract and should be told so by your agent to their agent. Be firm and tell them they signed the contract which is legal and binding.

Do not offer to help them move or give them any money as they knew in advance they weren't able to be out of the house. Tell them they are to pay $200 (although $100 a day is more attainable) a day until they are out. If they go past the 15 days, they will not only be liable for the $200 a day, but also attorney fees and court costs.

Answer 5

If the contract states you take possession on close, then they DID agree to it.

I'd offer them NOTHING whatsoever. They sound like nothing but trouble. I hope you had a home inspection because their moral compass is definitely broken.

They can do a ton of damage and cause a million problems sitting there after it's your house and your headache.

Their should have been one or more realtors involved. I hope you had a buyer's agent--this is a place where they really earn their money.

Answer 6

Do both parties have lawyers involded? Was the closing date and moving date communicated by the attorneys? What was signed off on? If you have written documentation verifying your position stick to your guns. DO NOT allow them to stay after closing under any circumstance. DO NOT even put such an offer on the table, and certainly DO NOT put up any money to assist their move. If this approach is to difficult for you to take, you would be better off moving the closing date back. I assume this might be a better option since you were seemingly willing to negotiate rental fees. You should talk to your attorney about a time is of the essence letter and let him explain what it is and how it works. Good luck

Answer 7

This is a disaster in the making. Do NOT close unless they have vacated the premises to your satisfaction. If you have a signed contract indicating vacant premises at closing, stick to your guns.

Give them NOTHING in the way of money until closing. You are not their babysitters. Also understand the laws which affect this sort of transaction. If you allow them to stay after closing, you legally become a landlord. What if they don't move after the fifteen days ? Are you prepared to go through the process of eviction to have them removed ? Are you prepared for the possible expense involved if they happen to trash the place as tenants ?

Answer 8

Write up a rental agreement that says;
1. This rental agreement is for 15 days.
2. Rent shall be $200.00/day x 15 payable in advance.
3. Deposit shall be $5,000.00 (held in escrow by an attorney)
4. If tenant is in property after 15 days, tenant will forfeit the $5000,00 deposit.
5. If the tenant vacated on or before the 15 days, they will receive a refund on their deposit, only if the place is left clean.

If they are still in the property after the 15 days, get the deposit and evict them out of the property.

Answer 9

What your offering is very generous. They signed that they would be out at closing. In fact I'd make it $200 a day the first week and $300 a day after that.

Answer 10

Do not close unless you verify that they are out of the house on closing day. What if they break something? What if they claim they need another 15 days?

It's too dangerous. Make them abide by the contract.

Answer 11

Unless they included a specific clause that states possession would be delayed, possession always occurs at closing so any accommodation that you do for them is reasonable in my mind. They can state otherwise all they want, but if it's not on the contract, they have nothing....