I just had a situation come up where the buyer of my seller's home (which is vacant) asked if he could lease the house for the week before closing because his temporary housing allowance is expiring.
The first concern that came to mind, of course, was what if something happens and he is not able to close on this property? That could create a nightmare scenario.
I took the question to my seller anyway, prepared to explain to him my concerns - of which I didn't even have to get into. My seller has bought and sold many houses in his lifetime. He agreed to a buyer temporary lease many years ago and vowed never to do it again. Once the buyers moved into the house they started finding (and creating) all kinds of problems. The situation ended up costing my client over $8000. His story is far more detailed than I have shared. It was truly a nightmare that dragged on for years.
I already had my doubts about buyers' temporary leases, but this was the icing on the cake!
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