How to handle post-possession closings with wholesale company?
I'm looking at purchasing a property from a wholesale company but the current owner will have a 30 day post-possession closing in order for them to find a new place to live. When I called the wholesale company, they said the post-possession is built into the purchase price (not sure what that means). Only after the 30 days would the owner be charged $250 per day.
Because the seller is the wholesale company, I don't seem to be able to collect a security deposit or rent for the 30 days the owner will still be in the property after the closing. Other than trying to negotiate a lower sales price, I don't see that I as the buyer am protected much while the owners are still in the property. From the pictures I've seen of the property (trying to get access to go inside), the place looks pretty clean and taken care of.
Has anyone purchased a property from a wholesale company where the owners had a post-possession agreement like this? If so, how did you work that out with the wholesale company and/or the owner?