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Old 03-19-2010, 10:22 AM
 
1,148 posts, read 2,770,796 times
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This might seem a little silly but I'm a first time seller and I've never done this before. With the amount of deadbeats out there it seems strange that you might have to move your furniture before the closing date only to have to pay someone to put the furniture back into your house should the deadbeat back out at the last second.

So do people wait until the contract is delivered and inspected at the title company, have their moving people in the house give them a call and have them move and then sign the contract after the furniture is out?

Is that doable?
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Old 03-19-2010, 10:27 AM
 
Location: 78747
3,202 posts, read 5,995,436 times
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deadbeats in Austin? You haven't seen anything until you try to sell something on Craigslist. It got so bad that eventually I only gave the closest intersection, said I wouldn't reply to questions, and that they had to call me when they were less than a mile away. That cut out 90% of the offers and 100% of the flakes. It was ridiculous.
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Old 03-19-2010, 11:23 AM
 
Location: Austin
7,244 posts, read 21,728,895 times
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Your agent should help you with that. There is a form called a "Seller's temporary lease back" for these concerns. Otherwise, if your contract says you must be out at "closing and FUNDING", you need to be out after you sign the papers. More than likely it'll fund within a couple of hours after "closing". If you're worried, you should have negotiated extra time.
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Old 03-19-2010, 12:15 PM
 
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Thanks falcon obviously this being my first contract I am a little at the mercy of my realtor's suggestions which werent exactly expansive when the contract was delivered.
My transaction manager said something about certain papers being delivered to the title company this Monday and if those are delivered then at that point the contract is almost always fufilled? Do you know what he is talking about and if his assessment is accurate?
Its a condo so I probably could sit on the contract for a few hours once the buyer signs it and have the movers move but I might just do it beforehand I havent decided yet. Probably best not to spook the buyer at this point and risk things falling through at the last minute.
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Old 03-19-2010, 12:42 PM
 
Location: Austin
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I'm a little confused with your use of words. What do you mean when you say "contract"? The "contract" should have been executed weeks prior to closing. Are you talking about signing the "closing documents"?

If the closing docs get to the title company on Monday, then both you and the buyer (at separate times) go in and sign those documents. Then you wait a couple of hours for a "funding number". At that time, the buyer can come pick up his keys.

How could you "sit on the contract"? Again, you might be thinking the closing docs. If that's the case, this is a bad idea. It might take 5-6 hours to fund. If you sit on the papers until the end of the day and it doesn't "fund" by your contract date, you could have just defaulted your contract and your buyers financing might fall through.

As soon as you have closing docs, go sign them, and get out of the place.
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Old 03-19-2010, 12:50 PM
 
1,148 posts, read 2,770,796 times
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I apologize if I wasnt clear. The contract has been signed and the deal is set to close on the 25th. However my transaction manager said something will be delivered on Monday by the buyer to the title company days prior to closing that will indicate if things are proceeding or not.
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Old 03-19-2010, 02:47 PM
 
Location: Warrior Country
4,573 posts, read 6,753,657 times
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What is a "transaction manager"?

& I agree with Falconhead West (that a short term lease back is an option).

In today's lending & "flakiness" environment, as a seller I would always negotiate a 1-3 day lease back arrangement. So you don't start moving until the loan funds.
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Old 03-19-2010, 02:52 PM
 
1,148 posts, read 2,770,796 times
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Quote:
Originally Posted by hound 109 View Post
What is a "transaction manager"?

& I agree with Falconhead West (that a short term lease back is an option).

In today's lending & "flakiness" environment, as a seller I would always negotiate a 1-3 day lease back arrangement. So you don't start moving until the loan funds.
In larger real estate firms basically the person who manages the transaction for the realtor after the contract has been signed. Basically so the realtor is out selling houses instead of answering questions for people about their pending sale.
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Old 03-19-2010, 04:44 PM
 
Location: Austin
7,244 posts, read 21,728,895 times
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Quote:
Originally Posted by orbius View Post
something will be delivered on Monday by the buyer to the title company days prior to closing that will indicate if things are proceeding or not.
This sounds VERY scary! The title company shouldn't be receiving anything from the buyer that would determine if they're going to close or not. They would need to turn everything into their lender...

I think there's something you're not being told.
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Old 03-19-2010, 07:58 PM
 
1,148 posts, read 2,770,796 times
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If I'm being lied to its very convincing and probably fraudulent details being fed to me by my real estate company. I seriously doubt thats the case and I have nothing to gain by backing out now and the earnest money to lose so I dont know why they'd bother with an academy award performance. As all realtors know nothing is set in stone until the money has been deposited so I have no illusions of full certainty surrounding this.
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