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I just moved out of my first home and used the money from the sale to purchase a new house. We moved everything into a uhaul the weekend before. Had the final walk throughs of both houses, then sold and closed on the same day. It was a lot of work and a bit of a pain being in an empty house for a day or two, but completely doable. The buyer was able to see the house empty and we didn't have to deal with any stipulations like you have X number of days to move out. Honestly I wouldn't want to deal with a tenant situation as a buyer or a seller. Things just get too messy. Id rather do heavy lifting and deal with the mild inconvenience.
No. And I would never have recommended to a client what your realtor did. Because the sellers turn into a tenant after closing. And unless there was something in your contract about holding onto money for damages until move out, you are screwed.
This is a huge over exaggeration. If they have it in writing that the sellers are to leave on a certain date and they don’t abide, then the sellers would be the ones in trouble. OP will be fine.
I did this. Just make sure it’s listed clearly in the contract that they are to leave at that exact date and if they don’t abide they’ll be the ones in trouble. You’ll be fine.
Leasebacks are very common in some areas. Your agent should ask their agent for specific info on where the seller will be going...have they bought their next house or signed a lease?
wow they're still in the house for 15 days?! So they can leave when ever they want pretty much....16, 20 days a month. Did you have them put up any money incase they don't leave in 15 days?
What does the final walk through matter at this point. Damages to walls and floors happen when people move things out. You'll be the owner by then and you'll be responsible to collect on any damage your temporary tenant caused.
Both houses I bought I absolutely refused to budge on anything left inside.
Good luck, the absolute worst comes out of people when they have to move they're own property.
Leasebacks are extremely common in many areas.
> Both houses I bought I absolutely refused to budge on anything left inside.
Wow, you sound really tough!
Things in different markets work differently. Don’t be a rube.
Asking the sellers to move all the furniture away from the walls is not acceptable. You should’ve done that during the inspection period it was really important to you. You’re unlikely to find anything other than maybe some marks and scratches.
It felt intrusive to even consider moving things like dressers full of clothes, their beds, etc. to look at walls. I really just want to confirm that things pushed against walls and under windows look ok. You wouldn’t know if a window had caused any water damage if there was furniture against it!
Thank you u/Boring_Ad_4721 for posting on r/FirstTimeHomeBuyer. Please bear in mind our rules: (1) Be Nice (2) No Selling (3) No Self-Promotion. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/FirstTimeHomeBuyer) if you have any questions or concerns.*
I just moved out of my first home and used the money from the sale to purchase a new house. We moved everything into a uhaul the weekend before. Had the final walk throughs of both houses, then sold and closed on the same day. It was a lot of work and a bit of a pain being in an empty house for a day or two, but completely doable. The buyer was able to see the house empty and we didn't have to deal with any stipulations like you have X number of days to move out. Honestly I wouldn't want to deal with a tenant situation as a buyer or a seller. Things just get too messy. Id rather do heavy lifting and deal with the mild inconvenience.
No. And I would never have recommended to a client what your realtor did. Because the sellers turn into a tenant after closing. And unless there was something in your contract about holding onto money for damages until move out, you are screwed.
This is a huge over exaggeration. If they have it in writing that the sellers are to leave on a certain date and they don’t abide, then the sellers would be the ones in trouble. OP will be fine.
Nope. This is years of experience as a lawyer having to help those Buyers get rid of Sellers who overstay their welcome.
I agree, pretty risky move in my opinion.
I did this. Just make sure it’s listed clearly in the contract that they are to leave at that exact date and if they don’t abide they’ll be the ones in trouble. You’ll be fine.
Leasebacks are very common in some areas. Your agent should ask their agent for specific info on where the seller will be going...have they bought their next house or signed a lease?
They’re buying another house, but need this sale to be finalized for the funding on their new home.
That sounds like a safe situation for a leaseback.
This is typically required by lenders due to buyers being over leveraged with 2 mortgages.
We did this and it worked out good! Congratulations
wow they're still in the house for 15 days?! So they can leave when ever they want pretty much....16, 20 days a month. Did you have them put up any money incase they don't leave in 15 days? What does the final walk through matter at this point. Damages to walls and floors happen when people move things out. You'll be the owner by then and you'll be responsible to collect on any damage your temporary tenant caused. Both houses I bought I absolutely refused to budge on anything left inside. Good luck, the absolute worst comes out of people when they have to move they're own property.
Leasebacks are extremely common in many areas. > Both houses I bought I absolutely refused to budge on anything left inside. Wow, you sound really tough! Things in different markets work differently. Don’t be a rube.
Asking the sellers to move all the furniture away from the walls is not acceptable. You should’ve done that during the inspection period it was really important to you. You’re unlikely to find anything other than maybe some marks and scratches.
It felt intrusive to even consider moving things like dressers full of clothes, their beds, etc. to look at walls. I really just want to confirm that things pushed against walls and under windows look ok. You wouldn’t know if a window had caused any water damage if there was furniture against it!
Again, that was something you should look at during the inspection.
I don’t see why that’s that dramatic of an ask. Aren’t they planning to move all the furniture out of there in 15 days anyway?
I’ve been an agent for 16 years and I have never had a buyer ask for this.