The date will affect when your first mortgage payment is due and the amount of interest you’ll have to pay at closing. Once everyone agrees, the buyer will close on the house, at which point the buyer will officially take possession and pay any upfront costs like a normal closing. As mentioned above, the seller will need to keep the house clean and be able to vacate the house during showings and … Q. I'm about to close escrow on my first home. Sellers may want more time in the home, but they can compromise by securing a place to stay for the short-term while they finalize their own situation. Presumably, the seller is buying a new home of their own. If the seller doesn’t move out at the agreed-upon time, you can take legal action against them. Since 1989, real estate has been his full time profession. In this scenario, the seller stays in the house while the home is on the market and through the closing process, including the home inspection and appraisal. However, keep in mind that you can ask for significant concessions if the closing is delayed over and over or if the seller needs a long occupancy period. You probably have a lot of questions. Clever’s Concierge Team can help you compare local agents and find the best expert for your search. If you want to have peace of mind during your home transaction, be sure you work with a skilled realtor like a Clever Partner Agent. 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Buyers and sellers generally agree to this arrangement when the seller is not ready to move— a more frequent occurrence these days. But many times moving dates don’t line up perfectly, so you’ll need to find out how long they need after closing to get out. The buyers and sellers became quite chummy during their deal. At times, buyers and sellers negotiate a separate agreement detailing when the home must be vacated. That isn't unusual. If a seller wants to stay in the home after closing, the buyer and seller should have a written agreement setting out the expectations for that post … Click here to. At the closing table they hand over the keys to your home and it’s officially yours. I want to be accommodating, but the thought makes me nervous. A seller might want to rent-back after closing for various reasons and this type of request isn't uncommon. 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