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Updated over 3 years ago,

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Travis Forbes
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Closing early, adding language about seller getting paid

Travis Forbes
Posted

I’m currently in the process of closing on a single family property. The seller has been on the more difficult side to deal with (complaining about the inspector, sewer scope, contractor, etc..) Due to the seller having a TON of crap in the house, I did an extended close date for two months from now.

I caught wind of another property going for sale at the end of this month that I have the opportunity to purchase prior to it hitting the market (it’s really competitive in the area I’m investing in). 

As I am getting a loan, I can’t put another property under contract while I’m closing on the other. I’m actually completely through the loan process and qualified and could close next week.

That being said, with all the eviction moratoriums, etc.. I am afraid of allowing the seller to “rent” back from me for two months instead.

Is there a way to close early and have escrow hold the money back to where he won’t receive his proceeds on sale until he is completely moved out? Any other ideas would be greatly appreciated!

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