Should You Let Sellers Retain Possession After Closing?
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- เผยแพร่เมื่อ 18 พ.ย. 2021
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Should You Let Sellers Retain Possession After Closing?
Annie Fitzsimmons and guest Kaitlyn Jackson discuss what has become a serious problem with Sellers being allowed to remain in the property after closing.
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Legal Hotline Video featuring Annie Fitzsimmons, Washington REALTORS® Legal Hotline Lawyer - The Legal Hotline is a Washington REALTOR® Member only benefit. These videos are intended for Washington REALTOR® members. If you have questions and are a primary member in good standing with Washington REALTORS®, visit www.warealtor.org to contact the Legal Hotline Lawyer. You will need your NRDS ID and password to inquire with the Legal Hotline or search the database.
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Thank you for this!
I thought that "I" was being the jerk!!
This is the most valuable information I've been advised of, bar none.
What can the industry do to educate all agents to stop this practice. If a listing agent requests rentback and a buyer puts and offer in with one, the buying agents listening to the law lose out
Explain the situation to the buyer client and chances are they won't want to look at the property. Unfortunately education does not work at the agent level--look what has happened with inspections notwithstanding Annie's best efforts for several years now.
Even the moratorium was reason to not do this, but the law changes are also a concern. There was one local listing agent who was putting 3 day moveout terms in virtually all her listings. I doubt that was client driven, but we were not even showing her listings after explaining the situation to the clients. Unfortunately her clients probably had no idea of the disservice she was doing them.
Also, I don't even want to think about the situation where no rent is specified, or it's specified as zero.
I bought my home and had a rentback contract. the sellers tried to stay after the 30 days we gave them. I acted quickly. the sellers started to tell their realtor that they needed more time, they got 575,000 at close so we knew this was a scam. the sellers were approached to remind them of contract, they started acting like they had no idea what we were talking about. they said - O the people we are buying from have not bought a house so they need more time-- Bullshit!!!!!!!!!!!!!!!!!!!!! they even tried to offer money - they would have been a reantal contract and they would have been able to stay .. renters rights and moratorium . So i contacted my lawyer, We went after them for breech of contact...since they were still there on the 1st the judge gave us 5800.00 and damages + lawyers fees .. we had rented out our condo and were loosing money... he said this was an attempt to stay due to the fact that the received soo much from sale. judge said - in what way are u being disenfranchised u have 575,000 cash. then he added on an additional 2200.00 he was made he said they were running a scam.
Could you give them a 90 day notice to sell or occupy as a work around, moving to eviction if they don't move?
Annie's legal hotline answer this week indicates the answer is yes. But note, that does not mean possession will be obtained 90 days after the notice is sent. There's a process after that if the seller does not leave.
@@karykrismer1448 Which would be a Writ of Restitution?
@@Pssst...Pssst... Currently it's likely an unlawful detainer action, just as if they were a renter in a normal tenancy. Not sure off the top of my head the form of writ if successful.
There has been time then to fix the forms available to us Realtors. (11months since this video) Why has that not occurred?
It’s 2024 now, has there been a change in this recently?
Hi there! Great question, if you are a Washington REALTORS member, please direct your question to Annie at our Legal Hotline here: www.warealtor.org/membership/for-members/legal-hotline. Thank you!
What happens if the sellers don’t move out once the house close and there isn’t a rent back?
I bought my home and had a rentback contract. the sellers tried to stay after the 30 days we gave them. I acted quickly. the sellers started to tell their realtor that they needed more time, they got 575,000 at close so we knew this was a scam. the sellers were approached to remind them of contract, they started acting like they had no idea what we were talking about. they said - O the people we are buying from have not bought a house so they need more time-- Bullshit!!!!!!!!!!!!!!!!!!!!! they even tried to offer money - they would have been a rental contract and they would have been able to stay .. renters rights and moratorium . So i contacted my lawyer, We went after them for breech of contact...since they were still there on the 1st the judge gave us 5800.00 and damages + lawyers fees .. we had rented out our condo and were loosing money... he said this was an attempt to stay due to the fact that the received soo much from sale. judge said - in what way are u being disenfranchised u have 575,000 cash. then he added on an additional 2200.00 he was made he said they were running a scam.
I just purchase a month ago a property for $6.2 million and seller has not moved out file a restraining order against me and his selling my property so call motivational speaker became a scammer CALVIN BECERRA
Hi there, if you are a Washington REALTORS member, please direct your questions and comments to Annie at our Legal Hotline here: www.warealtor.org/membership/for-members/legal-hotline. Thank you!
@@WashingtonREALTORS I’m in California