| Posted By |
Message |
|
|
Help un-confuse me!!!
Bear with me...
We are closing on Monday. In our contract, it says that the owners have 4 days to vacate.
I called up LIPA and got our electric and gas accounts to start the day that we close.
What happens if the owners do take the 4 days to leave? Do they have to pay us for the utilities? How does this work???
On a separate note - We were able to get into the house last week to take some measurements and stuff and the owners said that they would most likely be out by this weekend - they were having a POD delivered. I have a tendency to stalk the house - and went by it today and noticed that there was no POD and that the garage was still full of non-packed things. I'm freaking out that they are not going to be ready to move out when they said they were going to be gone. 
So - all that aside - what happens with the utilities?
Sorry for all the dumb paranoid questions lately... 
|
Posted 6/19/07 5:39 PM  |
| |
|
Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
|
|
Re: Help un-confuse me!!!
Our utilities changed over to our name the day we closed on the house.
Once you close on a house it's yours I thought and you can move right in, no? Is there going to be an overlap?
|
| Posted 6/19/07 5:48 PM |
| |
|
|
|
Re: Help un-confuse me!!!
There might be an overlap of 4 days. One of the things in our contract was that the owners had up to 4 days to vacate the house.
I would have preferred to not have that happen, but that was one thing that they wouldn't budge on.
|
| Posted 6/19/07 5:50 PM |
| |
|
|
|
Re: Help un-confuse me!!!
In all reality, the amount of money that they could possibly spend on utilities while living there for 4 days is pennies. I wouldn't worry about it too much.
|
| Posted 6/19/07 6:09 PM |
| |
|
|
|
Re: Help un-confuse me!!!
Posted by LaPetiteSirène
In all reality, the amount of money that they could possibly spend on utilities while living there for 4 days is pennies. I wouldn't worry about it too much.
Yeah - that's true. I'm breaking out into my panic-paranoid mode.
DH LOVES when I get like this 
|
| Posted 6/19/07 6:11 PM |
| |
|
|
|
Re: Help un-confuse me!!!
lol, no worries!!! It all has a way of working itself out!!! 
|
| Posted 6/19/07 6:15 PM |
| |
|
LIMOMx2
...
Member since 5/05 24989 total posts
Name:
|
Re: Help un-confuse me!!!
I would just leave it the day you close. It won't cost that much in the grand scheme of things if they do stay in it those extra days.
When is your final walk through?
|
| Posted 6/19/07 9:02 PM |
| |
|
|
|
Re: Help un-confuse me!!!
The walk through is scheduled for the morning of the closing
|
| Posted 6/19/07 9:03 PM |
| |
|
nov04libride
big brother <3
Member since 5/05 14672 total posts
Name:
Me
|
Re: Help un-confuse me!!!
We almost had that happen, and our lawyer had them leave money in escrow and they were to pay 'rent' and utilities for those additional days.
|
| Posted 6/19/07 9:17 PM |
| |
|
|
|
Re: Help un-confuse me!!!
Posted by nov04libride
We almost had that happen, and our lawyer had them leave money in escrow and they were to pay 'rent' and utilities for those additional days.
We only get the "rent" if they exceed the 4 days 
|
| Posted 6/19/07 9:23 PM |
| |
|
Karen
Just chillin'!!
Member since 1/06 9690 total posts
Name:
Karen
|
Re: Help un-confuse me!!!
Posted by scarletbegonia
The walk through is scheduled for the morning of the closing
Honestly, I would be more concerned about what they are doing in your house those 4 days after the closing! The house is legally yours, what if they decide to do something - do you have any recourse? What if the condition of something changes between the walk through and their departure?
|
| Posted 6/19/07 9:37 PM |
| |
|
|
|
Re: Help un-confuse me!!!
Posted by Karen
Posted by scarletbegonia
The walk through is scheduled for the morning of the closing
Honestly, I would be more concerned about what they are doing in your house those 4 days after the closing! The house is legally yours, what if they decide to do something - do you have any recourse? What if the condition of something changes between the walk through and their departure?
I know - that's what I'm worried about, but everyone keeps telling me that it will be fine and that it's standard to have a few days overlap....
|
| Posted 6/19/07 9:44 PM |
| |
|
Karen
Just chillin'!!
Member since 1/06 9690 total posts
Name:
Karen
|
Re: Help un-confuse me!!!
I bought 7 years ago, so I don't know how standard it is - but I would definitely check that your lawyer has some money in escrow or something.
I'm sure it will be fine - just keep stalking and make sure they're not doing anything they shouldn't be!
Message edited 6/19/2007 9:47:58 PM.
|
| Posted 6/19/07 9:47 PM |
| |
|
ckone
LIF Adult
Member since 8/06 3014 total posts
Name:
|
Re: Help un-confuse me!!!
There should be language in your contract that states that they are responsible to give you a per day fee. That should cover the prorated mortgage and utilities. If you have the four day agreement in the contract then they have four days post closing.
|
| Posted 6/19/07 9:47 PM |
| |
|
skew
LIF Adult
Member since 5/05 6794 total posts
Name:
|
Re: Help un-confuse me!!!
Posted by scarletbegonia
Posted by nov04libride
We almost had that happen, and our lawyer had them leave money in escrow and they were to pay 'rent' and utilities for those additional days.
We only get the "rent" if they exceed the 4 days
i am surprised that your attorney would approve this.
since you legally own the home on the day of closing, the previous owners will assume the role as tenants and should be required to pay you rent. as ckone mentioned, the rent should be a pro-rated daily amount based on mortgage and utilities.
if it is too late to add this clause to the contract, than make sure money is held in escrow. do not release the money until the renters vacate and you complete a thorough “after closing” walkthrough.
|
| Posted 6/20/07 8:59 AM |
| |
|
|
|
Re: Help un-confuse me!!!
In the house we just sold we had 5 days to vacate but we had to keep $1500 in escrow and anything after the 5 days we had to pay them rent. I decided on a later closing date and to just give them possession because I dind't want them to turn around and say their might have been damages when that crack was their already and their goes our money. My attorney also advised us against the escrow thing.
I would check your contract and see if their is anything like that. If they want to stay the 4 days then so be it but call your attorney about keeping money in escrow and then doing another walk through when they leave.
|
| Posted 6/20/07 9:16 AM |
| |
|
chikita315
Love
Member since 8/06 7945 total posts
Name:
M-lo
|
Re: Help un-confuse me!!!
Posted by LaPetiteSirène
Our utilities changed over to our name the day we closed on the house.
Did you have to get that set up through lipa/keyspan yourself, or was it done for you?
|
| Posted 6/20/07 9:54 AM |
| |
|
Eleanor
LIF Adult
Member since 2/06 2223 total posts
Name:
Ellie
|
Re: Help un-confuse me!!!
why not call LIPA and tell them to hold off. We called them the day we closed and they just turned it on. There were no problems calling that late. That way if they are not out - you don't have to worry about paying.
|
| Posted 6/20/07 10:50 AM |
| |
|
curley999
Family!
Member since 5/05 2314 total posts
Name:
|
Re: Help un-confuse me!!!
When we bought our house there was a 2 day overlap. I was uncomfortable with it too, but everything worked out ok. Money was left in escrow that we had to approve to be released after the keys were turned over. Also I beleive at closing we got some credit since they were staying extra and after 4 days if they did not leave they had to pay the rent specified. We switched over utilities on the closing date as well
|
| Posted 6/20/07 11:03 AM |
| |
|
