Closing when the seller is too broke to move out
Hi everyone, I wanted to ask for some advice about a property I’m in the process of closing on, hopefully in the next week or two. We signed a purchase agreement last week, got a great deal from a somewhat distressed seller, but the seller is claiming they need help putting down a security deposit and/or first months rent to move out to a new place.
Two options as I see it:
Should we get them some cash (and put that into an addendum to the purchase agreement to be sent to the title company) so they can proceed to move out? And therefore wait to close until they’re fully out?
Or should we try and close immediately so the seller has the cash to move out, and put together an addendum that specifies when they have to be out of the house?
Anybody have any advice or experience for this kind of situation?