Real Estate Question - Over Possession of House

[bsucards]

Ok, so I have a question. I was able to sell my house pretty quick, just taking forever for it to close. The house I am buying in the contract says the possession of the property will be delivered to the buyer (me) within 14 days after closing. The closing date will be 11/26.

Today I get an email from my realtor who is also the sellers realtor stating that "

The sellers are going not going to move over the
thanksgiving weekend, which pushes the possession back a few days. They
will be able to give you possession on December 15th (that is on a Monday),
but they will try their best to get out earlier...they just don't think that
it will be possible with the holiday weekend.

From the buying agreement

For each day Seller is entitled to possession after closing, Seller shall pay to buyer at closing $0 per day if seller does not deliver possession by the date required in the first sentence of the paragraph, seller shall pay buyer 100 per day as liquidated damages until possession is delivered to buyer and buyer shall have all other legal and equitable remedies available against the seller


So what should I do? :shrug: It is not my fault that they don't want to move over the holiday weekend. Yet they give me possession on a Monday, and so basically either I have to take time off work which I don't have or I move in on the weekend before Christmas

 

[AR182]

Ok, so I have a question. I was able to sell my house pretty quick, just taking forever for it to close. The house I am buying in the contract says the possession of the property will be delivered to the buyer (me) within 14 days after closing. The closing date will be 11/26.

Today I get an email from my realtor who is also the sellers realtor stating that "


From the buying agreement

For each day Seller is entitled to possession after closing, Seller shall pay to buyer at closing $0 per day if seller does not deliver possession by the date required in the first sentence of the paragraph, seller shall pay buyer 100 per day as liquidated damages until possession is delivered to buyer and buyer shall have all other legal and equitable remedies available against the seller


So what should I do? :shrug: It is not my fault that they don't want to move over the holiday weekend. Yet they give me possession on a Monday, and so basically either I have to take time off work which I don't have or I move in on the weekend before Christmas

i had the same situation on a rental property a few years ago....& i charged the previous owner $75 per day past the closing date...

you have to tell this realtor that you are being inconvenienced & you are going to demand that they pay the $100 per day....be firm...

remember this is business...don't feel sorry for them or try to be a nice guy....everybody is out for themselves in this...& you should be also...


good luck

 

[SixFive]

I wouldn't hesitate to expect that payment either. Who is your realtor/agent you used to find and buy the house? Do you not have one?

If you just called the realtor for the seller and that person showed you the house etc., he's just as much your realtor as he is the seller BY LAW. If that's the case, he's getting both ends of the commission which is sweet for him and not dishonest, but it's his responsibility at that point to be as much an advocate for you as he is for them.

This just sounds like typical bs people try to pull when they don't think the other will do anything or will cave.

Congrats on the new house!

 

[bsucards]

We have the same realtor. She had a house we liked and we choose it.

I think maybe they were trying to test me.

We will not see each other at closing as I am signing the oaperwork the same day I close on my house they sign the next day.

I have told the realtor that I want to stick to the 14 days and waiting on her response

 

[SixFive]

We have the same realtor. She had a house we liked and we choose it.

I think maybe they were trying to test me.

We will not see each other at closing as I am signing the oaperwork the same day I close on my house they sign the next day.

I have told the realtor that I want to stick to the 14 days and waiting on her response

good deal. She's very unethical if she doesn't have your best interests in mind = to the sellers. Realtors can get in trouble and are considered not ethical if they do not.

 

[Morris]

A friend of mine was charged $100 a day until he turned his house over. That nite he was moving furniture into the street so he wouldn't have to pay.

Stick to your guns it's your house.

 

[marine]

if they give you hassle about not wanting to pay the daily charge... tell them you just dont want the house then... and call their bluff.

 

[MadJack]

you really should get a walk thru before you even close. suppose they leave the place a shit hole?

 

[MadJack]

tell them you are not closing until they move the hell out and if they aren't out by the date you're supposed to move in, you're not closing.

that's total bullshit.

 

[MadJack]

watch how quick that "agent" starts getting on YOUR side.

 

[SixFive]

watch how quick that "agent" starts getting on YOUR side.

another fantastic reason to always have your own agent. I'd never call the name on the sign and go see the house. I call one of my buddies in the business and go.

 

[MadJack]

you really should get a walk thru before you even close. suppose they leave the place a shit hole?

seriously, after you close they have your money and you're not getting it back. AND THEY ARE LIVING IN YOUR HOUSE!

how can you buy before they move out and you inspect the place?

you better change that immediately ESPECIALLY since they're pulling shit on your already.

don't do it!

 

[hedgehog]

i had the same situation on a rental property a few years ago....& i charged the previous owner $75 per day past the closing date...

you have to tell this realtor that you are being inconvenienced & you are going to demand that they pay the $100 per day....be firm...

remember this is business...don't feel sorry for them or try to be a nice guy....everybody is out for themselves in this...& you should be also...


good luck

yep, you are exactly right.

I would tell the other realtor I was having second thoughts about buying the house, just to see what they would offer for not moving

 

[Jinxbreaker]

Tell them to pound sand....it's a buyers market!!

 

[WhatsHisNuts]

Shawn: I just ran into this issue in February when we bought our house. They have a legal obligation to stick to the agreement. DO NOT CAVE. Tell them that you are sorry to hear that they are having issues, but you would like to follow the agreement as signed. Following the rules doesn't work well with everyone, that's not your problem and your realtor needs to know that.

 

[bsucards]

thanks for the feedback everyone, my plan is to stick to the 14 days from closing, and if they don't meet that then start to request money. Still no response from my agent.

If I get to that point, how do I get money from them?

I dont plan on telling them that we are not interested any longer, just not an option, this is the house we have wanted since we saw it the first time

 

[AR182]

thanks for the feedback everyone, my plan is to stick to the 14 days from closing, and if they don't meet that then start to request money. Still no response from my agent.

If I get to that point, how do I get money from them?

I dont plan on telling them that we are not interested any longer, just not an option, this is the house we have wanted since we saw it the first time

they have no choice but to pay if they are in the house past closing...& the agent has to make sure it is done or she can be sued for malpractice....& the seller can also be sued if they do not pay....but i doubt that they or the agent would do this.....just stand your ground & under no circumstances should you change your stance.....

 

[MadJack]

i still don't understand why you don't have possession of your house until 14 days after closing. i think that's a bigger deal than the inconvenience of "day they will move". wtf?

 

[Axle]

Because this agent is handling both ends of the deal he/she is in precarious position, potential conflict of interest, it is legal, but preception is everything. It sounds like you have $100 a day coming to you if they don't get out.

If this realtor is not a Broker, I would contact the office they work for and ask to speak to the Broker, they will try to resolve the situation before it gets ugly.

If it looks like you might not get satisfaction contact the local Board of Realtors for assistance, and finally if still no help, contact the State Department of Real Estate....

After all that is exhausted and still no progress, hire a lawyer.......If you choose to back out of the deal, you might lose your deposit. That might be a big deal or not, depending on the amount of the deposit.

 

[AR182]

i still don't understand why you don't have possession of your house until 14 days after closing. i think that's a bigger deal than the inconvenience of "day they will move". wtf?

good point i missed that....you should get the keys sometime during the day of closing....