Seller to remain in possession after close of escrow

Generally speaking, it is completely "legal". Rather stupid, but completely legal. Hopefully you've written a "lease back" agreement to protect yourself. It is sort of like letting them be standard renters. The danger comes many ways - do they "take the appliances", damage the home, not move out on time, etc. Furthermore, many mortgage loan programs do NOT allow a lease back, and the ones who do, generally require you to occupy the home within 30 - 60 days.

Check you contract...there is a standard time sellers have to move unless you have an agreed upon date. Your realtor should be able to point that out and should have informed you if there was something different than normal move out time frame.Good luck...

It is common incident and legal however that can be handled by your real estate agent to cover your rights! Your real estate agent can draft a contract, which calls "Seller in passion after closing the escrow" in that contract you can capture your requirements! Good luck :) Shab

What does the contract state? Unless you granted them permission in the contract, they should be out of the house on or before the closing documents are recorded. Your Real Estate Agent should be advising you on this. It is never a good idea to allow the seller to remain. What happens if they break or destroy something in the house? If this (post possession) is something you want, then the seller should be executing a "Post Possession Agreement". This document spells out who is responsible for damage, etc. If you feel your agent is not properly guiding you on this go to his broker. Good luck. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com