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Page 16 of 34 |
What is a holdover home seller? And how do I get rid of him? |
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A holdover home seller is one who remains in a house after the closing has taken place. The new owner may find it difficult to get them to move out since title has been transferred.
It is important for homebuyers to inspect the property within 24 hours of title transfer. If the seller has not moved out, it is wise to delay the closing date until the house is vacant. Before close, the buyer has leverage over the seller, but this changes after the transfer of title. Then, it may require paying moving expenses or compensating the holdover seller in some way. Or you may need to follow your state's unlawful detainer eviction laws. You should consult an attorney knowledgeable in these procedures. |
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