Buying A Home
SoSweet06
member
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Moving in a month after closing?
We are buying a home that is for-sale-by-owner. The sales contract has been signed, the bank is ready to close at any time. Closing happened a little faster than the bank predicted. The problem is that the sales contract gives the current owners a month after closing to move out. It's inconvenient and annoying, but we agreed to it because we're getting an unbelievable deal on the house. So, we will just deal with it.
My question is...has anyone else had that long between closing and owners moving out? Did you have a separate contract drawn up to cover liability during that time? I'm worried about an accident on the property being our responsibility since we will be the "official" owners...
Re: Moving in a month after closing?
Yes! You absolutely need to get something in writing from them that states that they are covered for damage as well as liability for insurance purposes.
Also, if YOU own the home, they should be paying you rent! Otherwise they're living there for free????
Yes! Get a contract drawn up and make them pay you rent. Rent should be your new mortgage rate per diem. Do NOT close on the house without this contract! It's called a "leaseback" in many areas. To protect both parties, you'll want an attorney to draw it up.
My Pinterest
The Googlesites Paint Bio
Thinking of doing cosmetic updates to a dated home? These were our costs.
They should be paying your rent for that month, and you should definitely still got through it like a regular lease - take pictures of the condition of the house at closing, etc. I would also ask them for a home warranty because I would definitely be concerned about appliances failing in that period or needing repair because you would legally be responsible for it.