When is the proper time for the Seller to vacate their property after closing? This question comes up quite often during the process of the Real Estate transaction. Just when the proper time is, depends solely on the wording within the Real Estate Purchase Contract. Unless the property is vacant, generally speaking the seller has until after recording with the county.
Most important is how much was indicated within the REPC. Usually it takes about a month to close a smooth transaction on a purchase. If the transaction turns out to be a nightmare, then the closing could go on for an extended period of time.
Another method that can be used is an occupancy agreement between the parties. If the seller needs more time to move, the Realtor can execute the Occupancy Agreement, the seller can pay rent on a per diem basis. This could bring up a liability problem, which should also be discussed as part of the occupancy agreement.
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