Skip to main content

Seller hasn’t moved out 48 hours before close

Hopefully this post isn’t too long but here is the cliff notes of our situation. My wife and I just met with the notary tonight to sign off the final closing paperwork on the townhouse we are buying in CA. During the signing she mentioned that when she met with the seller at the home this past weekend it looked like she hadn’t packed a single thing even though she is supposed to be out on the 17th. Then when we were finishing up with signing the paperwork our real estate agent showed up and told us that the seller all of sudden wants more time to move out. Apparently she still doesn’t have a place to move to and the stupid woman has 2 children. This entire thing threw a massive wrench into our plans since we had movers scheduled for Saturday and we told our apartment we were moving out by the end of the month but now we are stuck for at least another week which is going to cost us money.

We are still closing on Wednesday so that we don’t lose our insanely low rate of 5.75% (long story but basically our mortgage broker screwed up and put down the wrong rate on a dock we all signed, should have been 7.25%) and I am scared this stupid woman will refuse to move out. She has been such a pain during this entire process and as we have been going through closing we found out that the seller basically can’t afford the place (she bought it in 2021 for $325k and is selling to us for $345k) and that she was behind by almost $5k alone on her HOA. Hopefully she will be out by this weekend but if she doesn’t move out we may get stuck with a squatters situation. I will post an update once I know more.

submitted by /u/Drew_916
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1c5b1sc/seller_hasnt_moved_out_48_hours_before_close/
Labels:

Comments

Post a Comment

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...
Post a Comment
Read more

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...
1 comment
Read more

Co-signing as non-primary resident - effect on size of required downpayment & first time home buyer status?

Contemplating co-signing on a house with my mom and splitting the mortgage payment. I currently have a significantly higher income and much better credit than her. I'm looking at potential home costs and related downpayments but have difficulty using some of the online estimators. From my perspective, this would be somewhat of an investment purchase (I intend to stay in my current location in a different state and contribute to the mortgage), however, for my mom, this would be a primary residence. For purposes of the downpayment size and the type of mortgage arrangement, would it be an investment property or a primary residence? Many thanks for any help. submitted by /u/piercalicious [link] [comments] source https://www.reddit.com/r/RealEstate/comments/km4hvl/cosigning_as_nonprimary_resident_effect_on_size/
Post a Comment
Read more