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/

Comments

Popular posts from this blog

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...

Obtaining a real estate license as a hobby?

Hello, I am 24 years old - 2 years out of college and I have my main job. I was looking to get a real estate license (in California if location matters) as a hobby/for fun since I like real estate ever since I was in high school. In the past 2 years, I would go to open house in the weekends to look at homes for fun. I don’t plan to practice real estate full time as I have my main job but I am curious are there any benefits to this? In the future, I plan to own multiple properties and have rentals, so I was wondering if getting a real estate license can help me with it? Thanks submitted by /u/AlohVera [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1f0qx9i/obtaining_a_real_estate_license_as_a_hobby/

Advice? Moved out of my primary residence and now renting

I moved out of the house I own in August 2021, I lived there for 8 years, I have been renting an apartment the past 3 years and renting out my house. My current tenant is moving out in September. I seem to have just missed the living 2 years out of 5 years rule for being exempt from capital gains tax and my house being a primary home. Any advice on what the best thing to do would be moving forward? Continue to rent out my house? I'm happy with my rental, but wouldn't mind buying another property down the road. I could sell my house down the road and try to do a 1031 exchange? Moving back in my house isn't ideal because it's an hour away from where I currently live. I could take a HELOC perhaps and try to buy another property and continue renting for the long term? I do have a 2.4% mortgage rate on the house so I don't mind keeping it for a while. Thanks for everyone's advice. submitted by /u/Ok-Top-7859 [link] [comments] source https://www.reddit.co...