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3katz4me

a new twist on closing vs. possession date

3katz4me
9 years ago

Well, the buyers of our lake home seem to have no concerns about a delayed possession date after closing. Now they want to close ASAP (60-75 days) so they can ensure a low interest rate. They are fine sticking with our mid-June possession date. They are fine that we will pay only utilities and no rent to them since we have no mortgage payment now. So I have now sent this latest proposal to our real estate attorney to make sure we have some kind of agreement to ensure we are protected from all the things that could go wrong with this scenario.

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