Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 9 years ago on . Most recent reply

User Stats

66
Posts
17
Votes
Ally Kumar
  • Investor
  • Lutz, FL
17
Votes |
66
Posts

Allow short sale owner to stay for 2 weeks after close?

Ally Kumar
  • Investor
  • Lutz, FL
Posted

I am purchasing a short sale property/small house. We are closing in 10 days but apparently owner didn't get notified that they have to be out soon. They are asking if they can stay for 2 weeks after close and pay me rent for that. I am not sure if that's a good idea. What if they don't leave as promised or damage the property when they leave? They would pay rent upfront at closing but should I take additional security deposit? I want to help the owners but don't want to create problems for myself like possibly having to evict them. First time buying a short sale and dealing with this situation. Pl advise. Thanks Ally

Most Popular Reply

User Stats

1,730
Posts
1,511
Votes
Jason Hirko
  • Lender
  • San Antonio, TX
1,511
Votes |
1,730
Posts
Jason Hirko
  • Lender
  • San Antonio, TX
Replied

@Ally Kumar I wouldn't let it happen. They're already being let out of one debt, so their promise to pay at closing wouldn't mean much to me. And their claim that they didn't get notified doesn't hold water because how long did it take to get the bank to accept your offer? Once it was submitted to the bank, they should have been making their bags...

Loading replies...