If its in the contract that seller may keep possession for up to 2 weeks post closing at no cost to seller , does this mean you dont get the proceeds from the sale until you leave the house or on the day of closing?
by 
Anonymous
ANSWERS: 1
-
That is to be specified in the contract. Anytime you have an unusual thing like that, it must be spelled out. A "textbook" closing means the seller gets the money and moves out on that day or before. Anything else, it must be written out and agreed to by both parties. The answer is "NO" it doesn't mean the seller gets the proceeds on that day. It must be defined in the contract. BTW it my not be a good idea to close until the seller can move out. Your call. What good is a closing if the money and property don't change hands that day anyway? And what if the seller doesn't move after the two weeks? These things must be written- all details- in the contract, initialed and signed.
RELATED QUESTIONS
Copyright 2023, Wired Ivy, LLC