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.
PLEASE don't do this. You have an agent, and this is exactly the sort of thing that they are being paid for -- get your agent on this NOW. Working outside of your agent is a sure way to blow up a deal that is, ultimately, salvageable. Your agent should know the rules re: tenants, etc. in your area. Everyone here offering advice can only offer advice based on what they know of tenant law in their area, and it varies wildly from state to state, and even sometimes from city to city.
You are stressing over "might be's", because you are afraid that they may not be out by March 10th. Why do you think they won't be out? You can't turn tenant law upside down and make demands because you are afraid of what the son "might" do.
No--regardless of local tenant law my advice would be that it is much preferable to have the house vacant at closing. No one should become a landlord in such a situation unless they are fully aware of (and preferably experienced in) the potential problems and consequences.
"Why?" Because the contract gives the OP no standing or basis for demanding immediate vacancy of a family member while the seller owns the property.
Delivery of a vacant property at closing in similar or better condition are the contract terms.
OP is not getting good communication, and is going to talk directly to the other party.
I would strongly advise that she NOT tell the seller that she is going to terminate over this.
There is a world of time for conversation between now and March 2. No need for emotional overreaction.
A DD Request and Agreement for any desired repairs, and confirming delivery of a vacant, clean house for closing by March 2 is all the OP needs.
Failure to do so after agreeing may well render the seller liable for return of all funds the OP has invested in Due Diligence and EMD.
When one finds their "dream house," pulling distraction of unproductive emotion out of the proceedings is often very helpful, and is certainly advisable in this episode.
But there is emotion involved...there is not just a tenant but an angry tenant. I'd be concerned about how much drama I was getting into, especially if as OP says, the mom seems to be afraid of the son and his anger. I admit there would be a piece of me concerned with whether he is stable or not and what he might do. Just saying, I can see why OP would be concerned as this doesn't sound like a typical tenant or even family tenant situation.
If he were gone with no trace before closing I would still do it if I loved the house, but if comes to having to evict an enraged person, it just wouldn't be my "dream house" it would be a stressful nightmare for ME. Again, I wouldn't do anything now, but I don't think OP is being over-reactive.
In NC where the OP lives, there will be an attorney at the closing and the OP can discuss this situation with the attorney either prior to the closing or at the closing.
I would seriously question this entire deal. Because:
1)why was the seller even present at your inspection. Seriously inappropriate. It should have just been you, your inspector, and your agent.
When I sold my last two houses the inspector came to the house when I was home, and without the buyer. The buyer is welcome to come, but it's not required.
2)why are you talking directly to the seller?? It is neither your interest or the seller's to talk directly to each other...that's why you have all these other people like brokers and agents. Talking directly to each other runs the risk that you will disclose information to the other party that they have no business knowing and which may give them leverage to kill or renegotiate the deal.
Depends on the situation. The seller of my current house was also the builder. Talking to him directly allowed me to get a wall moved, a utility sink installed, the water heater mounted two feet higher, outlets placed placed five feet above the wall for wall mounted flat screens and a host of other modifications that made the house fit us. I would have talked to buyers in the past, but never needed to. I'm grown up enough to not show my hand.
3)has your agent (or you) not informed your mortgage broker about this? Because the presence of a tenant will almost certainly invalidate your loan application. I guarantee you signed paperwork stating that you intended to live in this home and not rent it as income property---because the loan approval criteria for loans for rental property and the forms that go with it are completely different. Even if you don't intend to be a landlord, and even if the son isn't paying rent....it's still income property if you aren't living there.
It is the buyer's intention to live there. The fact that it was once income property has no bearing on the buyer's loan.
4)where the heck is your attorney in all of this? After you make an offer, your RE agent is there to guide you but really the work is then in the hands of your attorney and your broker. Your attorney should be advising you on whether or not your contract is even still valid.
I've never had an attorney involved in a real estate deal. That only happens in a couple of nanny states.
It doesn't sound like to me that you are getting good advice from anyone on your team. If it were me, I'd be looking not only to walk away from this property, but also to find a new agent, broker, and attorney! A decent attorney should be able to get you your earnest money back too.
Me in red. There are issues that need to be addressed. The big one is the seller's agent not returning calls.
I call baloney on not having a real estate attorney. We have bought & sold dozens of properties. The only time it was disasterously expensive bad deal was the one time we hurried ip & signed contract without our real estate attorney's involvement.
Originally Posted by Scorpiogirl_78
4)where the heck is your attorney in all of this? After you make an offer, your RE agent is there to guide you but really the work is then in the hands of your attorney and your broker. Your attorney should be advising you on whether or not your contract is even still valid.
In most states, there is not an attorney involved in a normal home buying/selling transaction sold through Real Estate Brokerage offices.
OP---The question is, do you want the home? If yes, then you need to make some simple requests through your agent.
That the tenant be out of the house prior to your walk through is the major one. If not out, then the closing will have to be delayed till after the tenant is out.
Hard ball way. Tell them you will file your purchase contract at the courthouse, and in most states that means the home cannot be sold to anyone else for at least a year. Called a Lis Pendens. A notice of future legal action. You will close, when the home is vacant and ready for you to move in.
In most states, there is not an attorney involved in a normal home buying/selling transaction sold through Real Estate Brokerage offices.
OP---The question is, do you want the home? If yes, then you need to make some simple requests through your agent.
That the tenant be out of the house prior to your walk through is the major one. If not out, then the closing will have to be delayed till after the tenant is out.
Hard ball way. Tell them you will file your purchase contract at the courthouse, and in most states that means the home cannot be sold to anyone else for at least a year. Called a Lis Pendens. A notice of future legal action. You will close, when the home is vacant and ready for you to move in.
Goals matter.
Is it important to invoke Real Estate Testosterone and make unnecessary inflammatory demands just to demonstrate that buyer can be as big a fool as the seller may be?
Or is it more important to work through and get the property purchased on terms acceptable to both parties?
Win the battle and lose the war?
OP has to move forward choosing a path to victory in the moment, or in the long run.
The problem is that the seller has a tenant who seems to not want to leave or may have no place to go. They are just looking into how to avoid any potential problems. They are just being proactive in the situation which is smart and looking for ways to avoid problems.
You, and probably the OP as well, are jumping to conclusions here.
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.
