In article ,
mm wrote:
So why didn't you allow the buyers to move in as tenants until escrow
closed?

I have heard that that is a bad idea, but generally a contract
provides a time limit of maybe 45 days for the buyer to get a mortgage
and close.

If the buyer couldn't close for some reason, why couldn't the seller
go find another buyer after the contract expired?

What if the tenants don't buy, but also don't move out? Then you've got
a very annoying situation on your hands.

I've heard of similar things happening when a buyer lets the seller stay
after closing, because the seller's new house won't be ready yet, and
then the seller's new house falls through, and the seller doesn't move
out.

If you are a buyer, it's a very good idea to not close until the house
is empty, and if you are a seller, it's a very good idea to not let the
buyer take position until after closing. Anything else is asking for
trouble.


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--Tim Smith