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Buying or Selling a Home/vacating after closet of escrow

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Expert: Michael McClure - 3/20/2009


Question
I am purchasing a mobile home, and our purchase agreement says that seller has 5 days after close of escrow to vacate the property.  He has suggested that he probably will not be able to move until at least another week following.  What are the risks involved in letting him stay longer than the 5 days (or at least his furniture)?

Answer
Lisa...good question.  Your risks are many!  You have no assurance that the other party WILL move.  This should only be agreed upon, if your ok with it, with instructions to escrow not to disburse funds until all the conditions have been met....ie, seller is gone, and home inspected for damage.
These types of arrangements almost always have issues....just be sure that they get zero $$$ until you are satisfied....
Good luck,   Mike

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Michael McClure

Expertise

I am a licensed specialist in mobile home sales in the South Bay area of So. California. I can answer questions related to buying and selling used homes that are already placed in parks, and placing NEW HOMES in park or private land. My previous banking background will also be of help to you re: financing questions. I am not a lender, but may be able to head you in the right direction.....I DO provide financing for my customers!

Experience

Many years of experience in the mobile/manufactured home business, as well as ten years major bank background. Selling,listing and providing financing for used and new homes.....why pay the landlord's mortgage?? Pay your own, and have something for the future! MMCCLURE@TROPHYHOMESINC.COM 310 386 1061 WWW.TROPHYHOMESINC.COM

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