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Author: footsox Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127683  
Subject: Q about closing date & owner moving out Date: 6/6/2013 2:06 AM
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We are buying a house for sale by owner. We will be paying cash for this house, and then refinancing it in a couple months. The owner has paid for the house and has no mortgage either. So, (in my mind) the closing might be reasonably simple, with no loans to be obtained or paid off by the owner.

The owner wants to move out on July 20th and 21st - a weekend. Should we not close on the house until she has moved out? My thought is yes, because if we close and then let her move out, she might damage something while moving furniture, etc., and then we will have already closed on the house and given her a check, and will have no recourse. Right?

Is there some way to do the closing and then the Title company will hold the check until we do a final walk through or something like that? How is this normally done? I have only bought empty houses in the past, so not sure how to deal with an owner moving out, etc. Any advice or tips? Thanks!

Footsox
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