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Seller is not transferring keys at closing.
#2 Tax, SDIRAs & Cost Segregation Contributor
- CPA, CFP®, PFS
- Florida
BPers,
I am closing on the house on 4/10 but the situation has gotten little more complicated. The seller's (Owner's) relative who managed this property is not surrendering the keys to the seller. Seller wants to close on the house without transferring the keys to me during the close and suggested that I change the locks as soon as I close.
Background:
Owner's relative is mad because he wanted to buy the house but cannot afford right now. This relative actually bought the house in the owner's name just to get around the number of the mortgages. But, the owners have the legal right to the house.
I would not go through all these headaches but I am buying this for 50% ARV with a decent condition.
Question:
Does this relative have any right to put a lien on the house or come after me after I buy the property?
