What do I do with these sellers

Question

Account Closed · Answer

@Raul Salmeron I didn't mean that they stay there while you have big husky men bringing in laminate beams and sheet rock. ;-) They get "quiet enjoyment" while they are renters. If you can't wait, then you can't wait. Boot them out. Seems you need better planning and policies. Either it is a part of the deal, if that is they way it has to be, or you move on to the next deal.

Account Closed · Answer

@Raul Salmeron Most Purchase & Sale Agreements have a clause that allows you to charge them rent for the period of time necessary for them to vacate. This is done all the time when a seller is moving to another property and has to wait for that property to become available.

Raul Salmeron · Answer

Account Closed I agreed with charging them rent while they are in the property living . The reason why I don't want to do that is because I am flipping the property and from a liability stand point I will be responsible if something bad happens to them while the contractors are in there working. . Would you pay a hotel for 3 days for them to go there and they delivered the house in " vacant status " while they close on the other house in which it happens to be on the same date I am closing on their house. What would you guys do ?

Raul

Matthew King · Answer

I'm just guessing you're responsible whether they are paying rent or not if its' your property?

Matthew King · Answer

Agreed, I've never had to deal with it but it sounds like that is the best option.  What happens if they end up needing to live there for months?