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Updated over 6 years ago on . Most recent reply
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Seller needs time to move out after closing
Hey guys, so I'm trying to figure out a way to make this deal work smoothly with the seller. The seller wants to close fast, within two weeks, but would like 30 days after closing to move everything out.
So we would close at the end of October, but full possession would be given, say, December 1st.
Can I simply rewrite the Possession clause in my Purchase Agreement to say "Possession of the property and occupancy (tenants excepted), with all keys and garage door openers, will be delivered to the Buyer 30 days after title transfers. Leases and security deposit will transfer to the Buyer with title."
From: "Possession of the property and occupancy (tenants excepted), with all keys and garage door openers, will be delivered to the Buyer when title transfers. Leases and security deposit will transfer to the Buyer with title."
How can I work around this so that the seller is able to have an extra month after closing to move to a different place to live?
Any help or advice would be greatly appreciated!
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- Real Estate Professional
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Sign a lease for Exactly one month at closing, have a hold back of an xtra $10k or so to protect yourself/motivate the seller.