10 Reasons We Don't Want Buyers Moving In BEFORE Closing!
As Warren County listing agents, one of our primary jobs is protecting our sellers' best interests, and there's more to that than just getting the best possible price for them. Now ultimately we provide the advice, but it's their final decision as to what to okay or not.
And a request that comes up more often than you might think from buyers is a request to take some form of occupancy prior to closing. It may be having appliances delivered early, it may be wanting to make repairs early (perhaps new carpet?) or to actually move in!
And at first glance you might think what's the harm? Especially if you've already moved out and the house is vacant. Putting a few boxes or a new fridge in the garage before moving in probably isn't a high risk event, right? True....but even that simple kindness has the potential to backfire. And if you let them actually move in, the risk climbs even higher.
So let's start with 10 reasons we will typically recommend our sellers to say NO to any early occupancy requests:
- Insurance. Homeowner's insurance is designed to cover the HOMEOWNER and their property. Read your insurance policy fine print lately? What if they accidentally burn your home down?
- We don't know the buyer's history. Perhaps the cops know them well? Maybe that box they want to store in the garage is filled with illegal "product"? Honest Yer Honor, it wasn't MINE!!
- Maybe the buyer is in the Witness Protection Program and Two Toes Tony is looking for him?
- What if their precious furry angel Sir Chews-a-lotta-ankles bites the neighbor?
- Maybe once they're in the house they decide not to close after all? They suddenly realize that floor plan just won't work? The furnace is too loud? The walls too thin?
- The poltergeist in your home might not like the new owners-to-be! Paranormal Activity 4, coming soon to a theater near you!
- Maybe the buyer gets into it with the neighbors and decides that's enough reason to not purchase after all!
- Maybe the buyer is a deadbeat. For a small earnest money deposit, they get possession of your home, don't go to closing, and now you're stuck with an eviction process to get them out.
- Maybe their kid decides to ski down the stairs and gets hurt. They sue YOU as the homeowner.
- They find out they're allergic to something in the carpets and now ask YOU to replace them or they won't go to closing!
Now admittedly some of these reasons are far-fetched, but understand the principle behind the advice. Life's funny. Unplanned things happen. Maybe 99 times out of 100 everything goes fine, but do you want to be the 1 of 100 that goes wrong? We live in an ever increasingly litigious society. Protect yourself by listening to us. Protecting YOUR best interests is just one of the many reasons you hired us!
Serving Warren County's residential real estate needs,
Liz and Bill aka BLiz