It is surprising how many clients put their home on the market for sale, but do not yet have plans made before their relocation.
Often times the Seller wants to wait to see the house is going to sell and see how much money they will receive for it before making future plans.
While it is common for a Contract for Sale to be made contingent upon the buyer selling their home, it is not common for the Contract to be made contingent upon the Seller finding a new home.
A Seller must have the capability to move out of the property on the target date of closing. By not doing so, the Seller risks that the Buyer will lose their mortgage commitment or worse.
It is surprising that during many transactions a Seller must be ‘read the riot act’ that they are required to vacate the premises! Sellers often feel it is their home and no can force them out.
*Scillieri Best Practice Alert*
Read your Contract for Sale carefully and be aware of what is included when selling your home. Please know that you must abide by the Contact.