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If the delay is indeed a result of the seller's inability to close on their next home purchase in time, then closing on the originally scheduled date and signing a Use and Occupancy "lease" agreement seems like a no-brainer. But that's assuming that you have that flexibility to rent out the place for a while after you close. We actually did this when we purchased our home and it was a clear win-win; i.e., we closed in mid-February but since our lease on the rental ran through May, and the sellers needed a few months to close on their next house, we lived worry-free and didn't lose out on any rent.
It must be difficult not knowing the seller's interests. If you did, you'd probably be able to help come up with a creative solution.
I am surprised that your attorney doesn't seem to be going to bat more for you.
Another option is that you can still close on the original date (the date you prefer), but rent the house to the seller for another 10 days. If you don't want to get into unnecessary litigation etc, this might be an option. You can hold some $$ as security etc. so that he has an incentive to leave the house in good condition.
We are having an issue with the appraisal company. They sent a guy that past his due date and caused us to not close. Then he quit...just quit refused to turn in his report. Now they gave it yo another appraiser supposed to get it done ASAP. Three days have gone by and nothing. We need to close this coming week. What are my legal rights. Electricity is in our name as of last Friday homeowners policy went into effect as of first close date. We are not happy with our mortgage broker our realtor. Very stressful.
we bought a house that we were leasing for 3 years. our lease contract expired on the end of jan 2018. the eacrow did not close until 5 Feb. the owner/seller is demanding that we pay for the 5 days after the lease contract prorated. our lease was $2,200 and they are demanding for $173.00 prorated since we were still in the house but we bought the house in CA it does not make sense at all it is all about greed for money. can someone pls help us understand this or is this even legal? what if we did not pay can we be in trouble? the house is in our name now. help anyone?? thanks
You have an attorney that is working for you during the home purchase, PLEASE PLEASE PLEASE ask them, their advice will be much more useful than a bunch of internet strangers on a message board!
we bought a house that we were leasing for 3 years. our lease contract expired on the end of jan 2018. the eacrow did not close until 5 Feb. the owner/seller is demanding that we pay for the 5 days after the lease contract prorated. our lease was $2,200 and they are demanding for $173.00 prorated since we were still in the house but we bought the house in CA it does not make sense at all it is all about greed for money. can someone pls help us understand this or is this even legal? what if we did not pay can we be in trouble? the house is in our name now. help anyone?? thanks
In my experience if you take occupancy early (early=before you close), you pay a prorated amount per day. If you need to hang around after a lease, you pay a prorated amount per day. It sounds like what the landlord is asking is fair.
I'm going to just say that regardless of if you could get out if it, the amount is so small it's not going to be worth the hassle, and it'd probably cost more than the amount you're being asked to pay.
we bought a house that we were leasing for 3 years. our lease contract expired on the end of jan 2018. the eacrow did not close until 5 Feb. the owner/seller is demanding that we pay for the 5 days after the lease contract prorated. our lease was $2,200 and they are demanding for $173.00 prorated since we were still in the house but we bought the house in CA it does not make sense at all it is all about greed for money. can someone pls help us understand this or is this even legal? what if we did not pay can we be in trouble? the house is in our name now. help anyone?? thanks
You lived in the house for free for 5 days. You were not paying rent and we’re not the owner. Is it greed for someone to want the money do to them or your greed because you do not want to pay the money you owe?
This should be perfectly understandable to you. No one is trying to rob you. What the seller is asking is perfectly reasonable.
This should have been taken care of at closing. If you passively did not renew the lease, you might not owe them the money; the month-to-month lease created by holdover tenancy is created by _acceptance of rent_, not just holding over. On the other hand, if you gave notice that you were not renewing the lease, you might actually owe them _double_. On the gripping hand, as the acquirer of the property, you may have acquired all their interest under the lease, in which case you again owe nothing. Talk to your real estate lawyer.
This is really mickey-mouse stuff, squabbling over $173 on a several hundred thousand dollar deal, after the closing.
we bought a house that we were leasing for 3 years. our lease contract expired on the end of jan 2018. the eacrow did not close until 5 Feb. the owner/seller is demanding that we pay for the 5 days after the lease contract prorated. our lease was $2,200 and they are demanding for $173.00 prorated since we were still in the house but we bought the house in CA it does not make sense at all it is all about greed for money. can someone pls help us understand this or is this even legal? what if we did not pay can we be in trouble? the house is in our name now. help anyone?? thanks
Sounds like you were not under contract for those 5 days to pay rent. This is some real petty crap. If it were me, I would offer them a settlement of $100 to go away. If not, tell them to try to sue you in court. I doubt they win or even go to the trouble. This is a simple shake down. And my suggestion is that if they try to keep your security deposit, you sue them in small claims court. I've done it before and it's a pretty easy case to win.
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