Closing Date v Moving Out date

Weyhey

When selling a property do you have to be out of it by the closing date or do you have a few days grace?

Seems mad to pack and move all belongings if something happens and purchaser can’t close?

Any advice would be helpful.

Jo King

Weyhey wrote: »

When selling a property do you have to be out of it by the closing date or do you have a few days grace?

Seems mad to pack and move all belongings if something happens and purchaser can’t close?

Any advice would be helpful.

You cannot close unless you aree in a position to give the purchaser vacant possession. This means at the time of the closing you and your belongings have to be gone from the property. A purchaser would be very foolish to close unless you are gone. It has happened that purchasers have turned up at the house on the day of the closing having paid the purchase price to find the old owner still there. They meantime have given possession of their own house to someone else, thus finding themselves on the side of the road with their belongings.
The best you can do is try and get written confirmation from the purchasers a few days before the closing that they are in a position to proceed and that they are in funds and that there is no other obstacle to the closing going ahead at the appointed time.
It is not foolproof however. That is one of the reasons moving house is one of the most stressful experiences in life.

Weyhey

Thanks.