Homeowner wants to stay after closing

[Jason McDougall]

Hey folks,

I've come across a couple of wholesale opportunities, and both homeowners want to stay for about a month after closing to use the cash to move. 

How should I handle a situation like this? I would of course disclose all of this up front to my buyer, but is this something that's common or reasonable?

Thanks in advance!

[Luke W.]

I've dealt with this a few times. They need the cash to move, but they probably don't need all of it. In the purchase agreement write out that you will pay the majority of the sale amount at closing, but you escrow a certain amount of money, say a $1000 for 1 month. When they move out, they will receive the $1000 or whatever the amount is. I would also have them sign a lease agreement that says they will be staying for a certain amount of time, and anything longer than that will deduct from their escrowed funds on a daily basis.