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Old 08-16-2018, 08:53 AM
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Should I be paranoid about this home buyer?

My sister and I are in the final stages of selling our dad's home in Kansas and closing his estate. We have a buyer lined up and sale contracts were signed with closing of the sale scheduled for 23, Aug. Today, my sister, who has been handling the bulk of the paperwork, got a phone call from the realtor about a problem. Apparently, the buyers didn't get some of their necessary paperwork to the bank on time and now closing is going to be delayed by about two weeks. This in and of itself isn't a huge issue for me and I really don't want to scuttle the sale over it.

The problem is that the buyers need to be out of their current apartment no later than 27, Aug no argument, no debate it has to happen. What they want to do is to pay us a month's rent and move in on the 23rd as originally scheduled and then proceed with the closing of the sale as soon as possible.

What are the risks if we let them move in before the closing of the sale? Could they back out of the sale yet refuse to move out thus become squatters we would have to evict? What happens if they burn the house down before the sale is closed?

We have a meeting with the lawyer handling the estate issues. Hopefully she can put our minds at ease and provide sufficient boiler plate before we sign anything. Prior to this meeting, do you have any advice or thoughts to share?
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Old 08-16-2018, 08:56 AM
Annie-Xmas Annie-Xmas is offline
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I did real estate for 26 years. Do not let the people move in without putting everything about the rental in writing, especially a clause that states "If the tenants do not close on the property by (such-and-such-a date) they agree to move out." Give them three months at the most.

One thing I know is it takes quite a while to legally evict a tenant. If they mess up in any way, file an eviction notice immediately. DO NOT give them more time to get it together.
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Old 08-16-2018, 08:59 AM
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When I sold my house, my broker recommended against any 'early move in' deal. The problem is that if closing doesn't happen, you've don't just move on, you're now a landlord with tenants stuck in the house you're still trying to sell. They might just move out and the end of the month or they might not, and you've got to go through eviction proceedings if they don't move, which usually take 30-90 days and involve their own issues. In the meantime they could damage the house or mess with showings of the house. If they burn the house down, probably your homeowners insurance covers it - but you better make sure that your policy will actually cover your house if you rent it out; a lot of homeowner's policies only cover your primary residence.
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Old 08-16-2018, 09:10 AM
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There's absolutely nothing in it "for you". They can rent an apartment and storage for their stuff.
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Old 08-16-2018, 09:13 AM
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There's absolutely nothing in it "for you". They can rent an apartment and storage for their stuff.
It may be tricky to get an actual apartment for a month because they usually do leases. However, there are plenty of AirBNB places and such which will be happy to rent for a month.
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Old 08-16-2018, 09:17 AM
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There's absolutely nothing in it "for you". They can rent an apartment and storage for their stuff.
Other than the fact that they might scuttle the sale entirely if we can't work out an arrangement. I'm happily willing to meet them more than halfway to get this sale to happen but I want to do this with my eyes open and understanding of my risks and how much protection I really need. Trust is a wonderful thing but signed contracts help.
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Old 08-16-2018, 09:25 AM
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The house being sold has a detached garage. I wonder if it would work to rent ONLY the garage to the buyers as a storage unit. They could stash their stuff in there but would not be allowed use of the house or to set up residence on the property until the sale is closed. If they agree to this. I would be willing to reduce the sale price of the house by the cost of a couple of motel rooms for a month.

Does this sound plausible/reasonable to you?
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Old 08-16-2018, 09:29 AM
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My condolences on your father's passing.

It seems odd that they happened to pick the perfect house for the "move-in before closing" situation - vacant house & non-local sellers (?). At the very least, I'd want independent confirmation from their bank, that they have indeed applied for a mortgage & it's only missing one piece of paperwork. By "independent", I mean info that goes directly from the bank to your or your realtor, not through the buyer's or their realtors' hands.

I'd really be a hardass on the lease too - ask for the max security deposit allowable by law, set rent at what their mortgage would have been plus whatever your insurance increase will be to cover renters, make it for exactly 30 days, with no clause allowing a month-to-month continuance, etc.
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Old 08-16-2018, 09:32 AM
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That's what those self-storage places are for.

If they need a place to stay, consider an extended-stay hotel.
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Old 08-16-2018, 09:36 AM
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My condolences on your father's passing.

It seems odd that they happened to pick the perfect house for the "move-in before closing" situation - vacant house & non-local sellers (?).


Yeah, this, and then they just happen to mess up their banking details just enough to miss the closing date. This screams scam to me.

I'd google squater's rights for this state, and see exactly how much of a pain getting them out could be.
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Old 08-16-2018, 09:36 AM
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See what your lawyer says.

In my opinion, if you like their offer and don't think you can do much better, can you do something like make the rent 150% of what the market rate it? All in writing, of course, but with a significantly higher rent than a reasonable alternative will help make sure the potential buyers are going to do everything in their power to get the deal to go through.
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Old 08-16-2018, 09:43 AM
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If a buyer seriously wants to buy a house, would they "scuttle the sale entirely" simply because the seller won't allow an early move-in, which forces the seller to assume a landlord's risks?

These buyers have many options--extended-stay furnished hotels, private rentals, etc--please don't allow yourself to be manipulated by these people.
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Old 08-16-2018, 09:55 AM
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Other than the fact that they might scuttle the sale entirely if we can't work out an arrangement. I'm happily willing to meet them more than halfway to get this sale to happen but I want to do this with my eyes open and understanding of my risks and how much protection I really need. Trust is a wonderful thing but signed contracts help.


I say if you are willing to put yourself out to make the sale, find them an apartment/rental, maybe even offer to pay for some or all of it. Just keep them the heck off your property.
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Old 08-16-2018, 09:58 AM
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The house being sold has a detached garage. I wonder if it would work to rent ONLY the garage to the buyers as a storage unit. They could stash their stuff in there but would not be allowed use of the house or to set up residence on the property until the sale is closed. If they agree to this. I would be willing to reduce the sale price of the house by the cost of a couple of motel rooms for a month.

Does this sound plausible/reasonable to you?
Certainly sounds less risky than letting them move in and rent.

If you let them move in and rent, they'll ask to extend it beyond a month, then they'll default on the payments, then they will be a massive pain in the ass to get evicted, and will destroy the fixtures and fittings on their way out. Well, that's the worst-case scenario, but not the least-likely case, sadly.

If you let them rent the garage for storage, make sure they are clearly responsible for insurance of the contents, and agree in advance what sort of access you will permit, and how frequently, to the stored items.
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Old 08-16-2018, 09:58 AM
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The problem is that the buyers need to be out of their current apartment no later than 27, Aug no argument, no debate it has to happen. What they want to do is to pay us a month's rent and move in on the 23rd as originally scheduled and then proceed with the closing of the sale as soon as possible.
Hell no.

Quote:
We have a meeting with the lawyer handling the estate issues.
A key question I would ask is why can't whoever is responsible expedite the paperwork?
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Old 08-16-2018, 10:11 AM
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Just say no. Acting in haste is never a great idea. Another buyer WILL come along.

I’d say no without a moments hesitation and solidly stand by it. Instruct your realtor to start showing it again. Let that trickle back to them and see what happens. And if they back away from the sale, as a result, let them.

Good Luck !
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Old 08-16-2018, 10:14 AM
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I'd be reluctant and distrustful, much like the other posters. Lease terms generally end on the last day of the month, not a few days before it. They can find alternative living arrangements in a pinch if they are determined to buy your house. It does seem opportunistic that they want access before closing for a property they know is already vacant and owned by distracted absentee homeowners.

If you really want to go through with this, get a written rental agreement. Require a credit check and references, just like you would for any renter. Get a large damage deposit. Specify rent paid upfront. Specify a high monthly rental rate if they extend the rental period or hold over (let's say three times the monthly market value rent). Require them to pay your additional attorney's fees to reduce these terms to writing. Demand that they double their earnest money deposit on the house (although it shouldn't total more than their proposed down payment). Specify that if they fail to close within the additional time they have requested, they agree that they have forfeited their earnest money deposit. If they are willing to agree to all of those terms, they are at least keeping up the appearance of being determined to close and they will have a lot more money on the table if they fail to close. These terms may cause them to balk but, if so, they were probably on the bubble of failing to close anyway. Good luck.
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Old 08-16-2018, 10:23 AM
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While I'm sure it's risky as a seller, I've done the early move in thing as a buyer twice. Both times same story, negotiations and agreements lasted longer than the end of my current lease. The expense and hassle of finding a temporary place, without deposits and lease agreements, then moving all my stuff not once but twice in such a short period of time was my motivation.

Both times the sellers were reluctant but paperwork was put in as Annie described above and it all closed up without having to deal with being a renter again, which was why I was buying in the first place.

My brokers also put quite a bit of effort into ensuring I was both very serious buyer and actually capable of buying.
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Old 08-16-2018, 10:27 AM
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I would say no unless you really need the money and are willing to take a chance.
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Old 08-16-2018, 10:30 AM
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My condolences on your father's passing.
Thank you.

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Another buyer WILL come along.
That's a very dicey position. The house has been on the market for nearly a year and only a handful of people have even looked at it. It is located in a rural Kansas town that has a large number of homes on the sale market. We've dropped the price and if it was up to me, I'd be dropping the price by about $5,000 a month until somebody bites. I want this house sold quickly and I'll try to be accommodating to make it happen. Getting this house sold ASAP without excessive risk to me is more important to me than maximizing the sale price. I'm talking with the realtor, my insurance agent and with the lawyer to understand these risks but I want this house sold.
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Old 08-16-2018, 10:45 AM
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I don't have any advice. But the last time we moved (and sold our house), we did something similar. There was some issue with the timing on the closing on our buyer's house and the loan processing. But, in any event, they moved in a week early and paid some arbitrarily determined rent for the week. Our realtor suggested that this was fairly common. And the Realtors' Association had a form contract that we used.

I'm sure there were plenty of potential pitfalls, but we didn't have any issues at all.

Last edited by Falchion; 08-16-2018 at 10:46 AM.
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Old 08-16-2018, 11:06 AM
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Annie-Xmas nailed it in post #2. I am also an agent in my state.

Read your sale contract. Did the Buyer promise anything that they did not deliver on? Are they responsible for any missed deadlines? Either would be a breach of contract, and give you some leverage. Example: if they promised to have financing lined up by X date, and that date has passed without a commitment letter, this would be a breach of contract.

If the Buyer(s) are aware that the sale is in jeopardy due to their actions, and theoretically, a suit may follow, they may alter their demands. For example, they may propose that they temporarily rent somewhere else, at their expense, and store their property somewhere else as well, letting you off the hook.

Or, if you have them sign a short-term lease, pay in advance, and possibly increase the sale price, it might make it all worthwhile for all parties. Since the Buyer(s) are the ones requesting the favor, they should be the party to pay for any legal work needed to write the lease.

Caution: the lender may treat the new lease as a change in the Buyer(s) financial position, requiring a new credit report and probably a downgrade. This could backfire.

OTOH, you have to consider what might happen to the transaction should they decide to call your bluff. Is it worth it to you? Do you have another buyer lined up or can you wait for one?

One caution, and this is where the advice of an attorney is valuable. In my state, we use the wording "time is of essence" that can refer to specified items in a contract or the entire contract. This legal phrase means that a missed deadline, even a slip of a minute, is considered a breach, and there is no grace period unless specified in writing. Without that clause, the definition of a breach can be slippery, and harder to enforce. I do not know if this clause is universal, so check your contract or ask an attorney.
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Old 08-16-2018, 11:12 AM
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That's what those self-storage places are for.

If they need a place to stay, consider an extended-stay hotel.
This was my first thought.

On the other hand, we've had situations where a month or 2 rental was involved in a sale, with us being the renters and the sellers, and it all worked out fine. The agents for both sides ensured that everything was in writing and everyone was in agreement. On some level, it comes down to trust. On the common sense level, it comes down to lawyers. Good luck!
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Old 08-16-2018, 12:11 PM
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That's what those self-storage places are for.

If they need a place to stay, consider an extended-stay hotel.
Glad I decided to read the thread. This.

It sucks to have to sell by remote control, and I get the desire to be hopeful and to want to accommodate so the sale can go through. But I guarantee it will suck even more to evict someone by remote control, and then hope they don't come back as squatters because you're not looking. This is nightmare fuel.

If they haven't got their shit together enough to close a home on time, or to make their own plans when something goes wrong, you can't trust them to do right by you.
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Old 08-16-2018, 12:14 PM
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I will say that I knew a real estate agent and these last minute screw-ups from mortgage companies, banks, or title companies were almost routine. People that had 2 months to get paperwork ready for a closing and were paid very well for it would wait until the very last day to do it and then something would often go wrong.
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Old 08-16-2018, 12:54 PM
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We rented our house from the seller for two months while our paperwork was settled (lots of delays). We had a full rental agreement and everything. It worked out for both of us.
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Old 08-16-2018, 01:21 PM
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Yeah, this, and then they just happen to mess up their banking details just enough to miss the closing date. This screams scam to me.

I'd google squater's rights for this state, and see exactly how much of a pain getting them out could be.
I am a realtor. This is way too paranoid. Banks (and Buyers!) screw up all the time, and deals get pushed back all the time.

I am not your agent, and I am not licensed in your state. But, if I had a client in this situation (and I have, multiple times) I would advise:

1- Not renting to them. Too much liability for possible eviction and property damage. Sure, contracts can be enforced, but over how long? If they tear giant holes in the wall and steal the bathroom fixtures, you can sue them, but it takes a long time and you still have to collect the money. And the asset has lost value.

2 - MAYBE the garage storage idea. Maybe. Some of the same issues as above though.

And my first move would be to get on the phone to the bank and push, push, push to get it done. Lenders can move 100% faster than they actually do - make them find the speed to get it done. This is your agent's job - you do have an agent, right?
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Old 08-16-2018, 01:46 PM
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If you’re thinking of dropping the price 5K to get a quick sale why not offer them 1K to move in after the close.

It might work for them and you both.

Just a suggestion!
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Old 08-16-2018, 01:50 PM
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Charge 5 k extra in rent. Lower sales price by 5 k. Net the same to buyer, so shouldn’t be an issue. If they don’t go through with purchase, you have 5 k for the hassle.
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Old 08-16-2018, 02:20 PM
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I'm sorry about your father's passing, and I'm sorry about the mess with the house. My mother died almost exactly a year ago, and my brother just had the final meeting with the IRS a couple of weeks ago that should be the very last thing that finally closes her estate, and she left everything in very good order.

So I'm sorry for your loss, and also sorry for all the work you have.

Anyway, when my father died (and this was now almost 21 years ago, and in another state from yours, so I can't speak to your laws), my mother decided to sell her house. She had one buyer (buyers, actually, a couple) lined up, but had not started paperwork with them, and they had balked for some reason, so she decided to go on to another buyer. Well, the first buyers got mad and threatened to sue if she didn't sell to them. They apparently were under the impression that the second buyer had offered her more money (not true), and they were being ditched for someone who was "bribing" her.

The fact was that she just wanted to get the house sold as quickly as possible, and she had not started proceedings with the first buyers; she'd just told them their offer was acceptable, but then they wanted to put conditions on it, and essentially it altered what they were offering. My mother consulted a lawyer, and was told that she was in a solid legal footing (she had a realtor at any rate, who wouldn't have let her move on if it hadn't been allowed).

But my mother still had to pay the lawyer's fee, and the sale was delayed; the second buyer could have given up. He didn't. The second buyer got the house, and the first buyers went away, without suing.

Again, I don't know what the laws are in your state, but it's not possible for you to get sued for breach of contract if you don't sell to these people, is it? It might be to your advantage not just from the standpoint of getting rid of the house, but also from the one of not getting any legal hassles, to make the sale happen for them.

Since a realtor (Sateryn76) says don't rent to them, then don't, but the people who have pointed out that if you would take $5k less for the house, you don't really lose anything if you lower the price a little to make it easier for your buyers to stay some place temporarily.

There are storage places that pick up and deliver. I don't know where they currently live-- if they are local, it's easier, but even if they aren't, it's possible to use one of these places. They send a "pod" to your place to pick up your stuff (more than one, if you need), and take it to a storage facility, where they park it. Then when you want it delivered, they bring the pod out to you. It's basically like renting a moving truck, but you don't unload it right away. The trailer gets detached and parked someplace (a secure place), and then brought to you when you want it. My mother did this with her stuff, because she wasn't sure where exactly she was going to end up after she sold the house. She wanted an apartment near her mother, but she also thought about moving a couple of other places. She ended up keeping her stuff in storage for about two months. It worked out fine.

I don't know what the logistics are of lowering the price at this point in the game, but it doesn't hurt to ask your realtor.
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Old 08-16-2018, 02:37 PM
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If they could put down a $X deposit, would that solve the problem? How big would $X need to be? Presumably they have some big wad of cash on hand for their down payment, no?
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Old 08-16-2018, 02:47 PM
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We had the opposite happen. When we bought our first house near Charleston, South Carolina, the seller was thinking he was going to get into OCS for the Navy.

He didn't. He asked us the DAY BEFORE the closing if they could stay for a few weeks after the papers were signed. Ivylad and I had already been packing, we had two small children, so sorry, we couldn't accommodate.

He apparently blew a gasket, our realtor told us, and threatened to cancel the sale. Our realtor and his had to explain the realities of the situation to him. It made for a very tense closing (this was in the days when both parties would meet at the same time to sign all the papers.) But, we got our house and I have no idea where he ended up.

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Old 08-16-2018, 02:53 PM
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Shit happens, so it's not necessarily nefarious. And I can understand accommodating to get the sale done.

But, in addition to making sure that you are clear about the ability to evict if they don't actually close (e.g. make sure they expressly waive notices, and make sure you are clear that there is no option to extend this lease, even by just going month to month) you want to make it very, very clear that they accept the condition of the property as of the time they move in. You don't want them living there as a tenant and finding all sorts of maintenance issues that, as a buyer, they want to haggle over.

Last edited by Moriarty; 08-16-2018 at 02:53 PM.
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Old 08-16-2018, 02:53 PM
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Another word of advice: Make sure everybody involved in the sale knows about the rental arrangement: the real estate agents and their brokers, the attorneys, the bank, the mortgage company and anyone else who has any stake in the deal. Keep copies of all paperwork and make all the parties involved get copies of it.

Lawsuits and fines have been known to happen from such arrangements.

Keep all copies of any paperwork and if the deal gets messed up, report everything to your state real estate commission. They can levy fines and/or suspend or even cancel licenses over any illegal and/or fraudulent activity.

An agent I did business with had a closing on a vacant property moved up a week. She allowed the buyers, who had the moving van all packed up and ready to go, to move their stuff into the house. She went into the house with them, supervised the items being moved in, and made sure they never had the key and did not physically move in until after the closing a week later.

The sellers reported her to the real estate commission, and it cost both her personally and our office a $500 fine.
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Old 08-16-2018, 03:17 PM
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I'm wondering about something--maybe the real-estate pros who've posted above can answer:

*Selling* to someone is one thing; *renting* is something else.

So would it be appropriate for the seller to run a background check on his potential tenants?
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Old 08-16-2018, 03:22 PM
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Ask your realtor.
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Old 08-16-2018, 03:52 PM
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Just to echo: if you do end up temporarily renting to the buyers, ensure that their signing a rental agreement doesn't disqualify the loan. A lot of folks barely squeak into mortgage approval, the bank could back out if the client has a sudden, new housing expense.

I've had three mortgages over the last 25 years. Not one of them went 100% smoothly. Several years ago we fired a mortgage bank when they got hung up on some $200 discrepancy very, very late in the game -- we were selling our Upper East Side (NYC) apartment and buying a NJ home that cost 1/4 the profit we'd make from the apartment. Idiots! We had a new bank within four hours and closed in a week on both places.
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Old 08-17-2018, 07:31 AM
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We had the opposite proposal when we bought our current house. The owner was moving across town and wanted to close on our house so he could have the money to close on the other house. So he wanted to rent our house between closings.

Our agent was obligated to pass on this request, but didn't think much of it. Pointed out that this is why bridge loans exist. We passed. The guy was unhappy and tried to stir up stuff. Our agent just said "Some people just have mental problems." His agent ended up on our side in the disputes that followed.

I want to have a "don't buy from people with problems" requirement the next time, but not sure how to do that in practice.
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Old 08-17-2018, 08:43 AM
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To emphasize: Unless your real estate agent is the broker of record for their office, make sure the BOR knows about everything that is going on with the sale. The agent does not have the right to renegotiate anything whatsoever. The BOR has to approve any changes, and is going to have their ass kicked by the commission if anything that goes wrong is reported to them.
  #40  
Old 08-17-2018, 08:56 AM
Tired and Cranky Tired and Cranky is offline
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Quote:
Originally Posted by Moriarty View Post
But, in addition to making sure that you are clear about the ability to evict if they don't actually close (e.g. make sure they expressly waive notices, and make sure you are clear that there is no option to extend this lease, even by just going month to month) you want to make it very, very clear that they accept the condition of the property as of the time they move in. You don't want them living there as a tenant and finding all sorts of maintenance issues that, as a buyer, they want to haggle over.
I'm still wary of the lease idea but I think it's very good advice to make it clarify that they accept the condition of the property.
  #41  
Old 08-17-2018, 09:51 AM
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Renee Renee is offline
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We allowed a buyer to do this on the last house we sold. Ended up taking 6 months to close. It was a total nightmare. Don’t do it.
  #42  
Old 08-17-2018, 10:13 AM
CelticKnot CelticKnot is offline
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The information wasn't included in the OP, but I had to jump in to answer this:

Quote:
Originally Posted by filmore View Post
It may be tricky to get an actual apartment for a month because they usually do leases. However, there are plenty of AirBNB places and such which will be happy to rent for a month.
In Kansas?
It really depends on what part of Kansas the house is located.
I have never been in the NE part of the state. The SW corner, on the other hand, is rural to the point of being almost desolate in places. Even the cities are small and not exactly thriving.

Alpha, my condolences to you and your family, and prayers for a quick resolution.

I know that being a landlord is far different from being a seller in the eyes of the IRS. Be certain of your legal rights and responsibilities, whatever you do.
  #43  
Old 08-17-2018, 10:19 AM
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GESancMan GESancMan is online now
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Originally Posted by Tired and Cranky View Post
I'd be reluctant and distrustful, much like the other posters. Lease terms generally end on the last day of the month, not a few days before it.
Every time we have given notice to a landlord, we have chosen a date to be out by. It doesn't have to be the last day of the month; the notice only has to be at least 30 days. And the move-out date must be after the end of the lease, of course. The point is, these buyers could easily have gone over their lease end-date, and be paying extra days or weeks of rent. They chose the date they would move out based on when they thought they would be taking possession of their new house. I'm speculating, of course, but I see no reason for mistrust on this particular issue.
  #44  
Old 08-17-2018, 12:06 PM
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Alpha Twit Alpha Twit is online now
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Originally Posted by CelticKnot View Post
In Kansas?
It really depends on what part of Kansas the house is located.
I have never been in the NE part of the state. The SW corner, on the other hand, is rural to the point of being almost desolate in places. Even the cities are small and not exactly thriving.

Alpha, my condolences to you and your family, and prayers for a quick resolution.
Many thanks for your kind thoughts.

The home is in Beloit, Ks in the north central part of the state, zip code 67420. Here is the listing for those who care. I did check on AirBNB listings in the area and there are a handful within 30 miles. Nothing I would consider convenient.

My sisters are both pretty much OK with the rental but it scares the heck out of me. My oldest sister and I are co-executors of the estate. Either one of us could legally sign the agreement but I just can't do it without taking it up with the attorney and I can't do this until Monday.
  #45  
Old 08-17-2018, 01:45 PM
DrDeth DrDeth is offline
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Quote:
Originally Posted by kayaker View Post
There's absolutely nothing in it "for you". They can rent an apartment and storage for their stuff.
If that was required for me, I'd back out. Pay an extra security fee and last months rent? No thanks.

I would say, OP, is yes, but make sure it is all in writing.
  #46  
Old 08-17-2018, 01:58 PM
DrDeth DrDeth is offline
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Originally Posted by LynnM View Post
I'm wondering about something--maybe the real-estate pros who've posted above can answer:

*Selling* to someone is one thing; *renting* is something else.

So would it be appropriate for the seller to run a background check on his potential tenants?
They obviously have decent credit, all that money stuff has been checked.
  #47  
Old 08-17-2018, 02:11 PM
LynnM LynnM is offline
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Originally Posted by DrDeth View Post
They obviously have decent credit, all that money stuff has been checked.
That's a background check for buyers; if I were landlording, I'd run a criminal background check on potential tenants. Or does a "money stuff" background check include that?
  #48  
Old 08-17-2018, 02:22 PM
DrDeth DrDeth is offline
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Originally Posted by LynnM View Post
That's a background check for buyers; if I were landlording, I'd run a criminal background check on potential tenants. Or does a "money stuff" background check include that?

No, but in most states, a private person cant do that anyway, except by googling name and "arrest".
  #49  
Old 08-17-2018, 06:21 PM
elfkin477 elfkin477 is offline
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I took a workshop in home-buying and the advice was to say "no" to any rental agreements. Don't rent the home to the buyer so they can move in early. And don't rent the house back to a seller so they can move out later than planned.
  #50  
Old 08-17-2018, 07:49 PM
RTFirefly RTFirefly is offline
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I'm with the 'don't rent' crowd.

But if you decide to rent, I'd suggest making a nonrefundable deposit as part of the deal, where it counts towards the purchase of the house if closing is by a fixed date, but if closing is delayed past that date, the deposit is yours to keep and doesn't count towards the purchase of the house even if they eventually close on it.
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