Seller Needs Time after closing

[Joseph Rodriguez]

Seller wants 10 days after closing to move out. More specifically, if we close on the 21st, they want until the 1st of the next month to move out. Or if we close on the 3rd of the next month, she wants until the 15th to move out. What should I write on the purchase and sale agreement, and what should I write on the assignment contract?

[Bill B.]

You’ve got to hold at least $10k in escrow for move out damage, failure to move out, stuff left behind after move out, utilities not paid, 10 days of rent etc. you want it to hurt waaay to much for seller not to follow through  

come up with a fair amount for rent and penalties for not leaving on time or “broom clean” and proof of insurance, utilities etc. 

there is almost no upside to you and a bunch of risk. What if the seller signed a lease to rent your place for a year during those days? Sure it won’t hold up in court but you’re going to be in court fighting that fight.