final walk through and owner hasn't even started moving

final walk through and owner hasn't even started moving

hilo, HI · Member since 2013 · 102 posts · 7 votes

     

Hello everyone.

  I am dealing with a situation here and I am not sure how to proceed. Thanks in advance for any help. Here is the scenario:

   I am the buyer of a short sale home.  It has taken a year to finally get approval, junior leans settled etc. Seller has been fully cooperative up to this point and will be receiving HAFA funds of $10,000 at closing. Seller's daughter and her family are living in the house. Seller has been aware of closing date since it was scheduled 30 days before and has guaranteed that his family will be out by then. I went for final walk through this morning and sellers family has done nothing to pack or move their belongings and they have ALOT of stuff. (Like it would take at least a week to move all of it.) Closing is in two days and I am scheduled to sign closing papers and deposit funds tmro morning.

  I did not speak with the residents of the house or with the owner as my agent says he will initiate the communication as he is representing both of us. I told my agent that I will not sign closing papers until I am confident that they will be vacating. I do not want to inherit the house with them in it and have to evict. But considering they are only bound to move once escrow has been closed, what is the best way to go about this?

  I feel it is in my best interest to wait until they are fully moved out to sign closing papers and transfer funds to escrow. I have had to go through evicting tenants in the past and it is a nightmare. Once they have all of their possessions out of the home then I will sign closing papers and change the locks. But as long as they have possessions in the home, then legally they have access to the property and I cannot change locks. (As far as my experience tells me from past evictions.)

Considering they have not lifted a finger in the vacating process and closing is just now 2 days away, isn't it logical that I tell them that I will extend escrow until they are fully vacated?

Any advice is appreciated. Thanks so much.

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  • San Jose, CA · Member since 2015 · 4k+ posts · 3k+ votes
    10y
    Originally posted by @Sean Dougherty:

       

    Hello everyone.

      I am dealing with a situation here and I am not sure how to proceed. Thanks in advance for any help. Here is the scenario:

       I am the buyer of a short sale home.  It has taken a year to finally get approval, junior leans settled etc. Seller has been fully cooperative up to this point and will be receiving HAFA funds of $10,000 at closing. Seller's daughter and her family are living in the house. Seller has been aware of closing date since it was scheduled 30 days before and has guaranteed that his family will be out by then. I went for final walk through this morning and sellers family has done nothing to pack or move their belongings and they have ALOT of stuff. (Like it would take at least a week to move all of it.) Closing is in two days and I am scheduled to sign closing papers and deposit funds tmro morning.

      I did not speak with the residents of the house or with the owner as my agent says he will initiate the communication as he is representing both of us. I told my agent that I will not sign closing papers until I am confident that they will be vacating. I do not want to inherit the house with them in it and have to evict. But considering they are only bound to move once escrow has been closed, what is the best way to go about this?

      I feel it is in my best interest to wait until they are fully moved out to sign closing papers and transfer funds to escrow. I have had to go through evicting tenants in the past and it is a nightmare. Once they have all of their possessions out of the home then I will sign closing papers and change the locks. But as long as they have possessions in the home, then legally they have access to the property and I cannot change locks. (As far as my experience tells me from past evictions.)

    Considering they have not lifted a finger in the vacating process and closing is just now 2 days away, isn't it logical that I tell them that I will extend escrow until they are fully vacated?

    Any advice is appreciated. Thanks so much.

     Yes, it's perfect logic to tell them you will not sign until they're out.  That's what I'd do, too.  They obviously have no intention of vacating on their own after you close.  Thank goodness you know better!  I'd tell them, hey I've waited a year, I can wait until you're out.  

  • Real Estate Agent · Virginia Beach, VA · Member since 2012 · 2k+ posts · 1k+ votes
    10y

    Absolutely do not close unless they are out unless you have a good lawyer that works out some sort of escrow agreement where seller does not get their 10,000 until they are completely out and per day payments of x amount, higher than cost of expensive resort, charged against it as cost for each day they stay over when you were supposed to get possession, and that is only if you are comfortable with possible eviction.  It appears daughter has no incentive to leave so be careful.   

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