breach of contract?

[Buyer_Newbie]

My husband and I are nearing the end of our escrow process. We established a date for COE. Now the seller is telling us they can’t move out until after that date, and would like to rent back. Is that legal? It was NOT negotiated ahead of time. Can we reject this?

[Coronita]

Heh, our seller originally tried to do this…Until they saw how much larger the loan payments were plus prorated property tax bill, hoa, mello-r, insurance..Then they moved out.

I don’t think your obligated to comply. Tell them too bad..Or if they want to truely stay, they need to pay you for your mortgage payments, prop taxes, hoa mello-r, insurance, plus any storage expense you incur, any extra moving expenses you incur, extra time off from work to rearrange your schedule, and that you also require a security deposit for the rent back and first month and last month rent up front. Sorry, but rent backs are a pita, especially if they end up causing more damage during the rent back. Days of honoring rent backs are over now that it’s buyer’s market.

[Coronita]

Heh, our seller originally tried to do this…Until they saw how much larger the loan payments were plus prorated property tax bill, hoa, mello-r, insurance..Then they moved out.

I don’t think your obligated to comply. Tell them too bad..Or if they want to truely stay, they need to pay you for your mortgage payments, prop taxes, hoa mello-r, insurance, plus any storage expense you incur, any extra moving expenses you incur, extra time off from work to rearrange your schedule, and that you also require a security deposit for the rent back and first month and last month rent up front. Sorry, but rent backs are a pita, especially if they end up causing more damage during the rent back. Days of honoring rent backs are over now that it’s buyer’s market.

[Coronita]

Heh, our seller originally tried to do this…Until they saw how much larger the loan payments were plus prorated property tax bill, hoa, mello-r, insurance..Then they moved out.

I don’t think your obligated to comply. Tell them too bad..Or if they want to truely stay, they need to pay you for your mortgage payments, prop taxes, hoa mello-r, insurance, plus any storage expense you incur, any extra moving expenses you incur, extra time off from work to rearrange your schedule, and that you also require a security deposit for the rent back and first month and last month rent up front. Sorry, but rent backs are a pita, especially if they end up causing more damage during the rent back. Days of honoring rent backs are over now that it’s buyer’s market.

[Coronita]

Heh, our seller originally tried to do this…Until they saw how much larger the loan payments were plus prorated property tax bill, hoa, mello-r, insurance..Then they moved out.

I don’t think your obligated to comply. Tell them too bad..Or if they want to truely stay, they need to pay you for your mortgage payments, prop taxes, hoa mello-r, insurance, plus any storage expense you incur, any extra moving expenses you incur, extra time off from work to rearrange your schedule, and that you also require a security deposit for the rent back and first month and last month rent up front. Sorry, but rent backs are a pita, especially if they end up causing more damage during the rent back. Days of honoring rent backs are over now that it’s buyer’s market.

[Coronita]

Heh, our seller originally tried to do this…Until they saw how much larger the loan payments were plus prorated property tax bill, hoa, mello-r, insurance..Then they moved out.

I don’t think your obligated to comply. Tell them too bad..Or if they want to truely stay, they need to pay you for your mortgage payments, prop taxes, hoa mello-r, insurance, plus any storage expense you incur, any extra moving expenses you incur, extra time off from work to rearrange your schedule, and that you also require a security deposit for the rent back and first month and last month rent up front. Sorry, but rent backs are a pita, especially if they end up causing more damage during the rent back. Days of honoring rent backs are over now that it’s buyer’s market.

[ybitz]

Yeah, I would reject it, unless they are willing to pay A LOT for the rent back to make it worthwhile for you.
Also, I would recommend doing the final inspection/walk-through after they have moved out. This insures that they have properly moved out and didn’t damage/destroy anything during the move. In our case, we did our final inspection before the seller completely moved out, and they damaged the house during the move (and we didn’t find out until after close-of-escrow). It is now a pain to get them to repair the damages. After escrow closes, and the seller gets the money, buyers have no leverage left, short of threatening to take them to small-claims court.

[ybitz]

Yeah, I would reject it, unless they are willing to pay A LOT for the rent back to make it worthwhile for you.
Also, I would recommend doing the final inspection/walk-through after they have moved out. This insures that they have properly moved out and didn’t damage/destroy anything during the move. In our case, we did our final inspection before the seller completely moved out, and they damaged the house during the move (and we didn’t find out until after close-of-escrow). It is now a pain to get them to repair the damages. After escrow closes, and the seller gets the money, buyers have no leverage left, short of threatening to take them to small-claims court.

[ybitz]

Yeah, I would reject it, unless they are willing to pay A LOT for the rent back to make it worthwhile for you.
Also, I would recommend doing the final inspection/walk-through after they have moved out. This insures that they have properly moved out and didn’t damage/destroy anything during the move. In our case, we did our final inspection before the seller completely moved out, and they damaged the house during the move (and we didn’t find out until after close-of-escrow). It is now a pain to get them to repair the damages. After escrow closes, and the seller gets the money, buyers have no leverage left, short of threatening to take them to small-claims court.

[ybitz]

Yeah, I would reject it, unless they are willing to pay A LOT for the rent back to make it worthwhile for you.
Also, I would recommend doing the final inspection/walk-through after they have moved out. This insures that they have properly moved out and didn’t damage/destroy anything during the move. In our case, we did our final inspection before the seller completely moved out, and they damaged the house during the move (and we didn’t find out until after close-of-escrow). It is now a pain to get them to repair the damages. After escrow closes, and the seller gets the money, buyers have no leverage left, short of threatening to take them to small-claims court.

[ybitz]

Yeah, I would reject it, unless they are willing to pay A LOT for the rent back to make it worthwhile for you.
Also, I would recommend doing the final inspection/walk-through after they have moved out. This insures that they have properly moved out and didn’t damage/destroy anything during the move. In our case, we did our final inspection before the seller completely moved out, and they damaged the house during the move (and we didn’t find out until after close-of-escrow). It is now a pain to get them to repair the damages. After escrow closes, and the seller gets the money, buyers have no leverage left, short of threatening to take them to small-claims court.

[bubba99]

Dont forget about the worst case scenario – they just refuse to move from the house you now own. Eviction is a long expensive process. Do they have a place they plan to move? Is it a short sale? Children and school years?

I have always insisted vacant at COE

[bubba99]

Dont forget about the worst case scenario – they just refuse to move from the house you now own. Eviction is a long expensive process. Do they have a place they plan to move? Is it a short sale? Children and school years?

I have always insisted vacant at COE

[bubba99]

Dont forget about the worst case scenario – they just refuse to move from the house you now own. Eviction is a long expensive process. Do they have a place they plan to move? Is it a short sale? Children and school years?

I have always insisted vacant at COE

[bubba99]

Dont forget about the worst case scenario – they just refuse to move from the house you now own. Eviction is a long expensive process. Do they have a place they plan to move? Is it a short sale? Children and school years?

I have always insisted vacant at COE

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