SS Folly -- I'm About To Lose It!
Happy Holidays! One & All
Short Sale in Jeoparody! Purchase price neogiation with bank completed, homeowner is under contract, and the buyer who wants property has my assignment contract.
My contract with owner gives them 3 weeks to vacate after closing. Buyer knew this BEFORE I accepted their offer.
Now problem has arisen because buyer wants property vacated on closing. Homeowners are balking & bank deadline to close short sale is a heart beat way.
Help!!! Parties are meeting to try and work this out. Any suggestions how to resolve this without blowing the deal??
Thanks
dmarketing
1) line up another buyer just in case,
2) be prepared to close yourself,
3) throw some cash for keys to the Seller
in an effort to have them agree to move out on or before closing, and
4)don't ever structure a deal that allows the former owner's occupancy to survive the closing.
Thanks Short Sale Pro! for your quick reply. These are helpful tips that I can use at the upcoming meeting.
... And you're absolutely right about NEVER allowing the homeowners tenancy to survive the closing. A painful and very impressionable object lesson!
dmarketing