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Updated about 8 years ago on . Most recent reply

User Stats

286
Posts
67
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Leon Lee
  • Real Estate Investor
  • Atlanta, GA
67
Votes |
286
Posts

Possession of the property 7 days after the closing

Leon Lee
  • Real Estate Investor
  • Atlanta, GA
Posted

Hi, BP experts

I am about to sign a contract, but the seller wants me to agree that "Possession of the property shall be granted 3-7 days after closing". During the touring, I know there is at least one tenant living in the guest bedroom, but I am not sure whether the seller or another tenant lives in the master bedroom. I think they probably need some time to move out. I am a little nervous that after the closing, I am the owner but someone else is still living there. What should I do to minimize the side effect and have myself protected?

Thank you!

Lee

Most Popular Reply

Account Closed
  • Real Estate Agent
  • Las Vegas, NV
1,347
Votes |
2,334
Posts
Account Closed
  • Real Estate Agent
  • Las Vegas, NV
Replied

only agree to take possession if property is empty or have a $3000 deposit in escrow which is forfetied if tenant is not out after 7 days 

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