I am closing soon on a property, sellers have odd demands, and I am seeking your advice on:
1) Seller is requesting to close on time but remain in the property for another 5-7 days
2) If I agree to their request, sellers will allow me to use their property Zillow/MLS photos. My RE agent is telling me that if I do not accept their proposal, I will have to spend money to take photos of the property before putting it on the MLS/Zillow
3) Seller is also refusing to vacate the property before final walkthrough.
I am very uncomfortable with sellers' request. Thoughts? What am I entitled to legally?
If you allow this, put a contract together that gives them a daily rent for the days they are supposed to stay. Get that rent at closing. Then have the daily rate become 3 times or more the cost of a very good one bedroom hotel suite after the number of days they are allowed to stay. In case they do not want to leave, you should have the very high price for additional days so they do leave. A hotel would be cheaper.
Also you need to hold out a cleaning, damage, you'al forgot the old couch and other junk deposit that is held in escrow. If they leave on time and its broom swept and no hidden, unclaimed damage is found when you have a walk through after they vacate, then you release it and escrow gives it to them, if not you collect the $ to be whole and they get the left over. Same as any other rental, but you should make it double what normally is charged because this situation is possibly a cover up for hidden damage, you know that hole in the floor under that couch...
And still do a complete, extra through, walk through before settlement and look under the couch.
I am closing soon on a property, sellers have odd demands, and I am seeking your advice on:
1) Seller is requesting to close on time but remain in the property for another 5-7 days
2) If I agree to their request, sellers will allow me to use their property Zillow/MLS photos. My RE agent is telling me that if I do not accept their proposal, I will have to spend money to take photos of the property before putting it on the MLS/Zillow
3) Seller is also refusing to vacate the property before final walkthrough.
I am very uncomfortable with sellers' request. Thoughts? What am I entitled to legally?
It is not uncommon for a seller to want to remain in the house after closing, often times they are needing to fill a gap between moving into their next house. I bought a house from a couple that requested we let them stay another month after closing. However, everything was in writing. If the seller is popping this on you right before closing, it should not be binding. Also, you should be entitled to some sort of rent-back for the week the seller plans to stay. Which is probably why they are offering the photos in exchange. Doesn't sound like they had all their ducks in a row..
Forrest Faulconer
I am closing soon on a property, sellers have odd demands, and I am seeking your advice on:
1) Seller is requesting to close on time but remain in the property for another 5-7 days
2) If I agree to their request, sellers will allow me to use their property Zillow/MLS photos. My RE agent is telling me that if I do not accept their proposal, I will have to spend money to take photos of the property before putting it on the MLS/Zillow
3) Seller is also refusing to vacate the property before final walkthrough.
I am very uncomfortable with sellers' request. Thoughts? What am I entitled to legally?
It is not uncommon for a seller to want to remain in the house after closing, often times they are needing to fill a gap between moving into their next house. I bought a house from a couple that requested we let them stay another month after closing. However, everything was in writing. If the seller is popping this on you right before closing, it should not be binding. Also, you should be entitled to some sort of rent-back for the week the seller plans to stay. Which is probably why they are offering the photos in exchange. Doesn't sound like they had all their ducks in a row..
Forrest Faulconer
Why take a chance on conducting a final walkthrough when it is still seller occupied?
"If I agree to their request, sellers will allow me to use their property Zillow/MLS photos. My RE agent is telling me that if I do not accept their proposal, I will have to spend money to take photos of the property before putting it on the MLS/Zillow"
You trying to flip the place? It's not really clear.
Photos are cheap. If they stay past close, they need to sign a lease with a daily amount and some holdback to pay for it. It happens.
If they don't want to vacate before walk-thru, take lots of pictures of what will remain after they leave. See if you can get them to sign it with a prop list as a stipulation.
If you allow this, put a contract together that gives them a daily rent for the days they are supposed to stay. Get that rent at closing. Then have the daily rate become 3 times or more the cost of a very good one bedroom hotel suite after the number of days they are allowed to stay. In case they do not want to leave, you should have the very high price for additional days so they do leave. A hotel would be cheaper.
Also you need to hold out a cleaning, damage, you'al forgot the old couch and other junk deposit that is held in escrow. If they leave on time and its broom swept and no hidden, unclaimed damage is found when you have a walk through after they vacate, then you release it and escrow gives it to them, if not you collect the $ to be whole and they get the left over. Same as any other rental, but you should make it double what normally is charged because this situation is possibly a cover up for hidden damage, you know that hole in the floor under that couch...
And still do a complete, extra through, walk through before settlement and look under the couch.