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Seller Rent Back Issues
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Anonymous
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We're dealing with a reluctant seller. She's elderly and we're pretty sure her children (who do not live locally) are making her leave the house. We're set to close in 10 days and now she wans to rent back for a few weeks. She has not packed a single item (I know becaue I went to the termite inspection at the house yesterday). Now, I am worried that she is not going to want to leave, because she is already treating us like we are the bad guys pushing her out of her home. I don't want to bully an old lady here, but something in my gut is telling me that she is going to be a problem.
Has anyone ever had an issue with rent back? What if she is not ready to leave when the time is up? I don't want to have to evict an old woman, and isn't that a really involved process anyway? We are not going to be majrly incovenienced becasue our current lease is month-to-month, but I would like to get in our house sooner rather than later and avoid any drama. |
Anonymous
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What is your agent advising? Personally I wouldn't do it -- the rentback should have been negotiated when the original contract was written. Is she aware that her rentback will be at your payment? It won't be free and I'm going to guess this alone will give her sticker shock.
This is an instance where your agent and hers really need to work together to resolve the issue. Let us know what happens. |
Anonymous
Yep...chances are the seller has no idea how expensive this will be. I wouldn't do it either. Not under these circumstances... |
Anonymous
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I would not. If she is already being difficult imagine trying to get her out as a tenant when she refuses to leave.
And if you are in MD, eviction can take months and months some cases because essentially the tenant has more rights then the owner! |
Anonymous
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OP here. Yyp, she was shocked at how much she was going to have to pay us. We are suppopsed to settle on the 8th and now she is claiming she can be out by noon on the 9th (something about her kids not being able to get to DC to move her).
I don't want to be a pill and charge her for 18 hours (we don't close until like 3pm on the 8th), BUT, I do want to have an agreement of some kind, because in theory, she could do any amount of damage between 3pm and when she moves out. Not that I think she will damage stuff on purpose, but she may not be as careful about knocking stuff around. |
Anonymous
| OP - change the closing to the afternoon of the 9th. Given her reluctance, I wouldn't close before she's out. |
Anonymous
Agree with this! |
Anonymous
| Agree, change the closing. Under no circumstances should you close while she is still in the house. It could be a nightmare to deal with given the concerns you already have. I understand the concern you have for her being elderly, but you really need to not let that influence how you handle it. |
Anonymous
Second this! |
Anonymous
| Change the closing date. That is the easiest way to manage the situation. |
Anonymous
| Ask your closing attorney before doing this. The closing date is one of the essential terms of the contract, along with price, earnest money deposit amount, etc. Offering the seller a chance to change the closing date could be interpreted as opening up the entire contract, and if she truly is reluctant to sell, she could refuse to change it and then get out of the entire contract. |
Anonymous
| OP, we also can't change closing because her agent is unwilling to close on a weekend day? Weird. I suppose we are sticking with the 8th and she is renting back for 18 hours. I might be pyscho and sleep in my car and watch them move out. DH will want to kill me. |
Anonymous
I think that's a mistake. What if she doesn't move out. I know you're tryign to be kind because she'd old, but you need to protect yourself. What if you're faced with an elderly squatter who refuses to pay rent, or continues to pay but just won't move? Don't be a sucker. |
Anonymous
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OP - I know it sounds harsh, but I wouldn't do either.
Insist on closing on the 8th and insist on her getting out. This isn't your problem and renting back for 18 hours may very well prove to be difficult. Her family will just need to suck it up. She agreed to this closing date, so I'd stay firm... |
Anonymous
| OP again. Thanks for all the advice. I am going to talk to our agent tomorrow. DH is a lawyer and has been dealing with the title company and he thinks I am overreacting in thinking she will not get out, and how do you say "women's intuition, gut feeling" to a lawyer (root of many fights for us!) I just have such a bad vibe about this woman and she has been downright mean to us, so I have no confidence that she will do the right thing. |