Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I need the advice of Realtors or buyers because I feel like an idiot not understanding the verbiage in our contract. Yes, I could contact an attorney, but...
Some of you have read my other posts. In Ohio, you sign when you buy a house and take possession about a week later. You do not get keys at closing.
Ok, here is the exact wording in the contract:
Possession: SELLER shall deliver possession and occupancy to BUYER on or before 6:00pm 7 days after recording of the DEED or 12.12.2008, whichever is later.
Well, we signed the on December 5 ( Friday). The seller signed over the weekend. The DEED was filed TODAY. 12.9.
Wouldn't it mean that the SELLER has until 12/16 at 6:00 to give us possession? ( That to me is the later.)
Our agent said no read the contract....he must be out be Friday.
I have no experience with Ohio real estate law, but the way I read the sentence, you could be given the keys/possession at anytime, but the seller has the option to maintain possession until 12/16 if days are calendar days or 12/18 if the contract is using business days.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 22,328,216 times
Reputation: 6472
Quote:
Originally Posted by raising3boys
Some of you have read my other posts. In Ohio, you sign when you buy a house and take possession about a week later. You do not get keys at closing.
Are you kidding? I guess I know you're not but, WOW! It always amazes me the way some customs differ around the country.
Quote:
Ok, here is the exact wording in the contract:
Possession: SELLER shall deliver possession and occupancy to BUYER on or before 6:00pm 7 days after recording of the DEED or 12.12.2008, whichever is later.
I see the words ON OR BEFORE. Would this preclude taking occupancy 5 days ahead of time or is this just saying anytime during the day? I think it's a pretty poorly written sentence.
Would mutual agreement between you and the seller allow you in on your time schedule? If the seller bugs out a couple of days early, what would the purpose be in having a vacant home?
Congratulations either way, it looks like you'll be home for Christmas
I read it the same way Bob does. Sorry Raising... but that seller (who we know is not playing with a full deck) COULD stay until then. IF he knows when the deed was recorded and actually read the contract. IF he doesn't vacate, you cannot take action on him until after that date. I wouldn't tell him, though, or ask him when he plans to vacate (unless you have a way to do it without tipping your hand), because he may not realize how long he actually has..... does that make sense?
Thank you all! I knew that you ALL would be great.
Shelly and Bob- Thats exactly how my dh and I are reading it too. My agent keeps telling me look at the contract it is clearly written he must be out Friday. ( Clear as mud.) Ugh. The deed was for sure recorded today. We own the house according to our Realtor.
Its crazy in Ohio! LOL. We had to carry home insurance since Friday. The day we signed for the loan we had to have insurance even though the seller is still there. To me, it is like he is living rent free.
DM- Wish I was kidding! In previous posts I stated that when my parents sold 20 years ago, it was 30 days after papers were signed!
I am wondering if any other states do what Ohio does. To me, when you sign loan documents, you should get the keys!
Our agent told us that it protects the seller if the check doesn't fund or whatever. If a buyer brings a certified check, why wouldn't it clear? IMO.
Wow, I'm no realtor or attorney, but that is totally loopy! What happens if he decides to fall asleep in bed with a cigarette? You lost your house and you have to file a claim with your insurance company? You are responsible for a house that you own but someone else lives in?
What happens if he doesn't leave? Do you have to get the sheriff after him to evict him? I can't imagine that would be a quick process would it?
I would love to know from an Ohio legal expert why it's that way!
Thank you all! I knew that you ALL would be great.
Shelly and Bob- Thats exactly how my dh and I are reading it too. My agent keeps telling me look at the contract it is clearly written he must be out Friday. ( Clear as mud.) Ugh. The deed was for sure recorded today. We own the house according to our Realtor.
Its crazy in Ohio! LOL. We had to carry home insurance since Friday. The day we signed for the loan we had to have insurance even though the seller is still there. To me, it is like he is living rent free.
DM- Wish I was kidding! In previous posts I stated that when my parents sold 20 years ago, it was 30 days after papers were signed!
I am wondering if any other states do what Ohio does. To me, when you sign loan documents, you should get the keys!
Our agent told us that it protects the seller if the check doesn't fund or whatever. If a buyer brings a certified check, why wouldn't it clear? IMO.
I am coming to this discussion in the middle BUT do not understand why there was not an occupancy agreement w/ a daily rent amount and instructions for you to notify your insurance company for temporary coverage covering the liability of an extended stay by the buyer. I am not an attorney but would certainly have advised my client to consult one. Given the unforseen often happens you would be protected......on the surface seems like your agent did not fulfill this aspect of their fuduciary duty to you...if they wrote the agreement, they would have violated their license by acting as an attorney....but things may be different there
tami-We have played that scenario over and over in our heads. Its the what if game! Our agent and actually the firm has told YES, we would have to sue to get him out if it comes to that. We get told over and over that is how real estate transactions are done here. The broker even told us -do not worry it always works out.
OC- We asked about this and were told that it is standard practice in Ohio, for the buyer to vacate the premises sometimes even LATER than 7 days. We would had to negotiated that though. The ONLY home that we saw, that had 0 days to vacate were new builds. The latest vacate date we saw was like 20. We saw about 30 homes. They do not have the tenant thing because supposedly it has to do with the funding even if it is certified check. This is how Ohio gets around it, I am guessing.
The latest news came in from our agent. She called to tell us the Seller will be out Monday at 6:00 in one breath she said this, then she said...but Friday the 12th will be latest. I insist that doesn't make sense. I had to get a little bit stearn and say...if the deed filed today then he doesn't have to be out Friday. Finally, she said ...let me call you back..I am confused.
Well she called back and apologized....The earliest he will be out is Monday at 6:00. He legally has until Tuesday. She said that she was sorry for the misunderstanding. -Uhm Ok.
You all were right and so were we! My agent was wrong.
The hold up was on his end because his ex wife had to sign in NY. She couldn't send the papers back until yesterday so we are paying for their hold up.
I can't wait to this mess is over. Ohio does have some crazy real estate practices!
WOW I can't believe that's the law in Ohio. When the funds clear and the seller signs the deed over to you it's your house (and maybe the banks if you have a mortgage). The contract has to be plenty thick to cover all the "what ifs" while the seller maintains possession of YOUR property. Most people don't feel comfortable passing papers unless the house is vacant and the buyers had an opportunity to perform a walk-through. I guess people in Ohio are very trusting.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
