Tuesday, July 20, 2010

Closing date on a Saturday. When to move?

We are selling our house. The closing date (in contract) is on a Saturday (I know now, bad choice of date). We are hoping to move out on that Saturday instead of a weekday. The title co. (not using an attorney this time) said she will move the closing date to Friday or Monday according to the buyer's preference. She said for us to ask the buyer's agent when we will be allowed to move in, as well. So, is seems like the move-in date and closing day of the week (Friday or Monday) is up to the buyers at this point. Is this true? So, we'll just have to sign the paperwork and move out on that Friday night (if they choose Friday)??

Closing date on a Saturday. When to move?
The house needs to be 100% empty and broom clean a minimum of the day before settlement so that the buyer's agent can do a final walk-through.





Every agent is different, but I personally advise my clients (when they are buyers) to not close until the house is 100% vacated....that means all trash and debris removed, all furniture, all food out of cabinets, refrigerator, etc, and it swept broom clean.





This is also, so that you may do a full visual inspection.





When I was a new agent, I went back to a house with my buyer because I too, wanted to see how the house looked empty...to my horror, the "beautiful" hardwood floors had black pet stains...all of which had been fully concealed with furniture and/or area rugs. The sellers had thrown every single item of trash in the attic and basically left everything that they didn't want in the house.





I called the attorney, who said calmly, "Once the papers are signed, that's it."





I went to my supervising broker (when I used to work for one), and I thought, surely, that there was something in the contract that protected my buyer....and sure enough, there wasn't, in a standard real estate contract.





It never happened again...many agents, like myself, learned the hard way.
Reply:Bottom line is when you hold the closing, and receive the sale proceeds you need to be moved out and ready to hand over the keys. The only exception is if the contract specifies a period to move out after closing.
Reply:NO. WHY don't you have an attorney? Read your contract. Generally the language says on or about such and such date, or other date BY AGREEMENT. So you both have to agree. You should be moved out prior to closing, so you may want a Monday closing so you can move out through the weekend, and then clean up the place.
Reply:Yes as long as the title company handling the closing have the time slot. Normally the buyer gets the keys to the house on closing day which means you can move in then but not before.
Reply:In most cases, yes the buyer determines the closing date.


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