FAQ ~ When we sell our home, how soon after closing do we have to move out?

By
Real Estate Agent with Judi Barrett~Integrity Real Estate Services~Idabel, Oklahoma 141871
http://actvra.in/4vR8

FAQ ~ When we sell our home, how soon after closing do we have to Moving Day photo courtesy of Morguefile user "Click"move out? 

This is a concern for just about every seller that is still residing in their home while it's on the market.  It seems that most offers we see at Integrity Real Estate Services Brokerage office in Idabel Oklahoma, have buyer's possession of the home taking place at closing so of course, this is a very common part of any counter offer that our sellers make.  


Transactions do fail and sometimes they fail the week of closing.  


This creates anxiety in any seller about moving out of their home prior to the transaction closing.  It is fairly common for the new owners to give the sellers seven to ten days to completely remove all of their belongings.

 

Sometimes if there is a storage building or shop on the property or the home has a garage, those areas can be used as transition areas; either to store seller's belongings in for a few days after the closing or to store the new owners household items in while in the moving stage.  


When you put your home on the market is THE time to think about how you're going to move, how you feel about moving prior to the transaction actually closing, and if you need time after closing to move, how many days would be adequate.  


We want our sellers to have to deal with moving BECAUSE we want their property to sell and work hard to create that very thing for them  BUT it is important to have some idea of timeframe you need for that big job AND if you're willing to do that before you close or if you need some time after closing.  

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Nothing contained within this post is intended to be legal advice.  I am not an attorney and cannot give legal advice.  If you need legal advice, you should seek the advice of licensed attorney.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 


Judi K Barrett, B.S. EDU

Associate Broker 

Integrity Real Estate Services 

Office Address:

118  SE AVE N

IDABEL, OK 74475

Office phone:  580-212-5946

Judi's Cell:  580-212-5919

 

 

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Ambassador
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Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Judi, The occupancy date can often be more challenging than price.  When we're repping sellers we generally do prefer a few days post closing for occupancy because things DO sometimes go wrong.  Hopefully it's as simple as a short delay, but once the sellers have packed up their possessions, kind of hard to easily reverse it.

Jun 15, 2012 05:02 AM #1
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Judi K Barrett
Judi Barrett~Integrity Real Estate Services~Idabel, Oklahoma - Idabel, OK
BA, Integrity Real Estate Services -IDABEL OK

This one gets pretty touchy at times and it's always best for sellers to at least think about this prior to getting an offer.  I have even specified in listings that seller may require a certain number of days past closing to get moved if it's a big enough concern.  Thanks Bliz for coming by!

Jun 15, 2012 07:04 AM #2
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Amanda and Jared Christiansen
Century 21 Bradley (260)704-0843 - Fort Wayne, IN
Century 21 Bradley Realtors

I agree with BLiz.  Possession can get as touchy as price.  Great article that explained it well.  Good post Judi!                 

Jun 15, 2012 09:23 AM #3
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Judi K Barrett
Judi Barrett~Integrity Real Estate Services~Idabel, Oklahoma - Idabel, OK
BA, Integrity Real Estate Services -IDABEL OK

Jared, So good to see you.. really enjoying that new profile pic.

Jun 15, 2012 09:44 AM #4
Rainmaker
505,931
Pat Champion
Coldwell Banker Camelot Realty - Mount Dora, FL

Great post and topic I have some seller's in this situation they should really be considering this before getting an offer on the property.

Jun 15, 2012 09:51 AM #5
Rainmaker
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Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

Judi: Possession in my area takes place directly after the closing. 

Jun 15, 2012 10:07 AM #6
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Judi K Barrett
Judi Barrett~Integrity Real Estate Services~Idabel, Oklahoma - Idabel, OK
BA, Integrity Real Estate Services -IDABEL OK

Pat, Always a good idea to consider it PRIOR to HAVING to consider it.  :) Thanks!

Jun 15, 2012 10:14 AM #7
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Judi K Barrett
Judi Barrett~Integrity Real Estate Services~Idabel, Oklahoma - Idabel, OK
BA, Integrity Real Estate Services -IDABEL OK

Anita, is that set in stone, law, or just standard custom?

Jun 15, 2012 10:14 AM #8
Rainer
248,293
Linda Metallo DiBenardo
Re/max Impact, Lockport, Illinois - Lockport, IL

Possession is given the day of closing.   When the sellers go to the closing table they are already moved out.  Keys are turned over to the buyers when the transaction has funded.   That's  most typical in my market area.

Jun 15, 2012 12:41 PM #9
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Richard Iarossi
Coldwell Banker Residential Brokerage - Crofton, MD
Crofton MD Real Estate, Annapolis MD Real Estate

Judi,

Unless previously agreed to in an addendum, the home is to be vacant at settlement. And yes, this can absolutely present a problem at times.

Rich

Jun 15, 2012 02:19 PM #10
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