I would like to get some advice from an experienced person regarding
making an offer to buy the house.

We (myself and my wife) plan to move to Palmdale, CA area in
mid-september time frame. We found the house we are interested and
decided to make an offer. However, there is one issue. The seller can
not move out of the house until the end of November 2003. He bought
new house and it won't be ready until November. The seller wants to
rent the house until November after the escrow closes. If this
happens, then we need to find an apartment until November - and move
twice. I belive the house is priced lower than the neighborhood homes
- thus, it makes very attractive to buy the house.

Question:
1) What is the best way to resolve this issue? Is it better for me to
make an offer and buy the house? And rent out the house to him until
November?
2) Or should I write a contract such that escrow will last until the
end of November? That way we don't have to rent out the house and
won't be liable for the house.
3) What requirements should I address in the contract - if I do make
an offer? For example, insurance, cancelling the contract during the
escrow period, etc.

Any advice will be appreciated. Thanks

"John Amp" wrote in message
om...
I would like to get some advice from an experienced person regarding
making an offer to buy the house.

We (myself and my wife) plan to move to Palmdale, CA area in
mid-september time frame. We found the house we are interested and
decided to make an offer. However, there is one issue. The seller can
not move out of the house until the end of November 2003. He bought
new house and it won't be ready until November. The seller wants to
rent the house until November after the escrow closes. If this
happens, then we need to find an apartment until November - and move
twice. I belive the house is priced lower than the neighborhood homes
- thus, it makes very attractive to buy the house.

Question:
1) What is the best way to resolve this issue? Is it better for me to
make an offer and buy the house? And rent out the house to him until
November?
2) Or should I write a contract such that escrow will last until the
end of November? That way we don't have to rent out the house and
won't be liable for the house.
3) What requirements should I address in the contract - if I do make
an offer? For example, insurance, cancelling the contract during the
escrow period, etc.

Any advice will be appreciated. Thanks

you need to find a local lawyer who can answer all these questions. advice
in usenet is frequently worth every penny you pay for it.

(John Amp) wrote in
om:

Question:
1) What is the best way to resolve this issue? Is it better for me to
make an offer and buy the house? And rent out the house to him until
November?
2) Or should I write a contract such that escrow will last until the
end of November? That way we don't have to rent out the house and
won't be liable for the house.
3) What requirements should I address in the contract - if I do make
an offer? For example, insurance, cancelling the contract during the
escrow period, etc.

These are not things you want to do on your own. It's ridiculous that you
are asking question #3 on the net. Don't you have an agent? If not, at
least get a real estate lawyer. You could get royally screwed trying to
do this on your own. The money you save isn't worth it.

As far as questions 1 and 2, it's not purely up to you to decide the
terms. If the owner wants to do it a certain way,you'll have to do it
that way or not buy the house. No one here can really work this out for
you. Renting to the previous owner is a fairly common procedure in some
circumstances, but you need someone who can work out a suitable rental
contract, you'll need insurance, etc. It is not at all clear why you
can't just close in November. Please, get professional help!

(John Amp) writes:

We (myself and my wife) plan to move to Palmdale, CA area in
mid-september time frame. We found the house we are interested and
decided to make an offer. However, there is one issue. The seller can
not move out of the house until the end of November 2003. He bought
new house and it won't be ready until November. The seller wants to
rent the house until November after the escrow closes. If this
happens, then we need to find an apartment until November - and move
twice. I belive the house is priced lower than the neighborhood homes
- thus, it makes very attractive to buy the house.

I would never, ever consider doing a rentback to the seller. If you
really want this house, offer to close at the end of November and
insist that the house be delivered vacant. Tell the seller you do not
want to deal with liability and the legal and tax issues of being a
landlord between closing and the time you take occupancy. (I don't
know what it's like in other states, but in MA the landlord/tenant
laws are heavily biased in favor of tenants, and it's an expensive and
drawn-out process to get an eviction if your tenant doesn't move out
by the agreed-upon date, for instance.) If your seller balks at this,
you can always try offering them more money to cover the
inconvenience to them....

In any case, certainly get a local attorney to draw up your offer, and
make sure you get the details fully worked out *before* you submit it
to the seller.

-Sandra the cynic

Thank you so much for all the response. I believe I got the answer I
needed. I will talk to the local real estate lawyer and resolve this
issue.

Thanks