The above posts mentioned how a post closing occupancy helped the seller (e.g. they had not closed on the property they were going to move to).
It could also help the buyer. Our buyer had a great mortgage rate locked in and the lock-in was going to expire. She would have had to pay $900 to extend the lock-in. We let her close early (and asked that she pay 50% of the per diem, since it was a lot more than our current housing cost would have been). We stayed about 2 weeks post closing until we could move in to our rental.
Everything was pre-arranged through the lawyers, just like the other posters have said.
The above posts mentioned how a post closing occupancy helped the seller (e.g. they had not closed on the property they were going to move to).
It could also help the buyer. Our buyer had a great mortgage rate locked in and the lock-in was going to expire. She would have had to pay $900 to extend the lock-in. We let her close early (and asked that she pay 50% of the per diem, since it was a lot more than our current housing cost would have been). We stayed about 2 weeks post closing until we could move in to our rental.
Everything was pre-arranged through the lawyers, just like the other posters have said.
Posted by: zargoth123 at October 6, 2009 3:21 PM in response to How common is post-closing possession?