Real Estate --- Move In Day
The day of move in can be extremely exciting. All the bare walls and
empty rooms seem to be shouting, Decorate me! Any new homeowner can
be flooded with new ideas as to how to rearrange the furniture,
clean, and unpack. One may want to paint and put up curtains right
away.
When the buyer makes an offer on a property and it gets accepted,
the planning starts. People have actually had a calendar marked as a
countdown to the big “M”. Moving Day. The question always comes up,
“When can I move in?”. The big day actually depends on your contract
with the seller.
Most of the time the buyer will be given the keys to the new home on
the day of closing. This is when the property actually changes
hands. The seller has signed his rights away and the buyer has
resumed them. Sometimes things can happen a little differently.
The seller may ask for a few extra days to ensure everything they
want is out of the house. They may need some extra time to locate a
property or even close on the new one they are buying. When a seller
is having a home built, delays can occur which can defer the sellers
moving on an expected date. There may have to be concessions made to
accommodate the sellers.
It is possible the seller will permit to have the buyer move in
prior to the closing. This generally can be done if the house is
vacant and it is a strong buyer. If the buyer had difficulty getting
hold of the loan, or asked for certain concessions, the seller may
not feel comfortable permitting the buyer to move in until the
closing has been finalized. This is just added protection against
anything which could go wrong. Either way the seller usually has a
week to week lease with the buyer to allow occupancy prior to
closing.
You will find some real estate agencies have rental agreements on
file which can be signed by the seller and buyer for either one to
live in the home during the time prior to closing or shortly
thereafter. These forms are used to protect each party so there is
no question about what is going on. The seller may pay rent to the
buyer in lieu of letting them stay longer. The buyer may also be
required to pay if he or she moves in prior to closing. The
agreements usually consists of a clause concerning the utility usage
during the times of occupancy.
In all reality, very few times any more do the sellers need to
reside in the home after closing. It is only on rare occasions the
buyer would need to move in before closing. So the real answer to
when you can move in is actually entirely up to the people involved
in the sale.
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