How long is standard for a homeowner to vacate after selling?

[Greg Lovern]

If you buy a home from a homeowner who is living in the home, is there a standard amount of time for them to be allowed to live there before vacating, while they look for another place to live and move there?

[Charlie MacPherson]

@Greg Lovern It's whatever the parties agree to - and that's specified in the P&S.

For a retail SFR buyer, I normally require that the home is delivered vacant and broom clean. We do a walk through within hours of closing and do a hold-back of funds to cure any defects like trash out or eviction.

If the parties agree that the seller can stay for a period of time, we execute a "use and occupancy" agreement that details the per diem cost, utilities, insurance, etc.  We increase the per diem aggressively starting the day after the seller is supposed to be gone.

These things can turn ugly.

I recently helped someone to buy an SFR in Plymouth. We got it at a good price, but the seller wanted to stay on for a week after closing and she was firm on that point. She was also a borderline hoarder, though we had repeated assurances that she would have everything cleaned out. As you might guess, the clean out didn't happen.

As you might further guess, she didn't move out on day 7.  She finally vacated on day 21 and the per diem used up the entire hold-back, meaning that my buyer was able to keep it.

What I found astonishing was that she showed up to the closing table without the slightest idea of where she would live next.  

My recommendation is to avoid delayed vacancy if at all possible.