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raken40
soooo in love:)
Member since 5/05 4369 total posts
Name:
Karen
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question about sellers moving out
if we close on wednesday and the sellers cant move out until saturday, how does it work out that they pay you for each additional day?
I cant understand how they will come up with a dollar figure for that.
also, if they are there longer, how would we get the keys?
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Posted 8/14/05 6:32 PM  |
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stepherg
LIF Toddler
Member since 5/05 444 total posts
Name:
Stephanie
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Re: question about sellers moving out
Usually it is worked out between the lawyers how much is paid. It should be in the contract. Also, the old owners usually have to leave $$ in escrow because you'll have already done your walkthrough and they may break something or take something with them. That is what happened to us. Our lawyer held $2500 in escrow of theirs until we got the keys and when we went in they had taken all the toilet paper holders, towel bars and front door knob! So we got to keep some of their $$ to replace those items.
I'm not sure what happens if they don't leave....
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| Posted 8/14/05 6:45 PM |
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dengal
Dad of Twins
Member since 5/05 1385 total posts
Name:
The 80's Man
Let's Go Mets!
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Re: question about sellers moving out
Posted by raken40
if we close on wednesday and the sellers cant move out until saturday, how does it work out that they pay you for each additional day?
I cant understand how they will come up with a dollar figure for that.
also, if they are there longer, how would we get the keys?
Saturday would be called the day you take possession. Like mentioned above, some money would be left in escrow. On Saturday, you would do a final walk through with the old owner (just to make sure they didn't trash the place). At that time, they would give you the key and you can tell your lawyer they can release the remaining money in escrow. When we bought our condo, the old owners stayed in there for an additional month and we charged $75 for rent. When we sold the condo, we stayed in for 4-5 days. On the day of possession is also when you start to pick up all the bills - electric, etc. It's pretty common not to take possession the same day, since the seller usually has to go and close on their new home.
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| Posted 8/14/05 7:01 PM |
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Erica
LIF Adult
Member since 5/05 11767 total posts
Name:
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Re: question about sellers moving out
check your contract...I think we had that rent started 5 days after closing...they moved out before, but just something to look into
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| Posted 8/14/05 7:20 PM |
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cjb88
Little Brother
Member since 5/05 3540 total posts
Name:
C
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Re: question about sellers moving out
our sellers would be charged rent after 3 days... $200 plus intrest plus utilities and taxes per day if they stay...
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| Posted 8/14/05 9:14 PM |
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raken40
soooo in love:)
Member since 5/05 4369 total posts
Name:
Karen
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Re: question about sellers moving out
so then when do they pay you? do they just write you a check the day they move out?
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| Posted 8/15/05 6:30 AM |
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