by Schmuto » Thu 11 Jun 2009, 12:07:03
$this->bbcode_second_pass_quote('TreeFarmer', '
')I would however be willing to put a decent amount down (not a tremendous amount) under a few condtions. Things like:
Your lawyer holds your money
I think this is bad advice.
Why put a "decent amount down"? You should put down the least possible amount. It's a buyer's market out there - don't put down a penny more than you have to so that you have flexibility down the road.
No lawyer worth his salt is going to release the money to you unless both sides sign off on it - otherwise it's litigation against him instead of you. So him holding it is a fool's comfort.
I agree that closing on a house without the right to move in immediately at the time of closing is asking for a huge problem.
Do a walk through within a few hours of the closing - keys change hands at the closing (we almost forgot em once!) - go right to the property and change the locks.
If the seller asks for another day or doesn't have their stuff moved out, do not let them stay in the place after the closing - that could create a tenancy you didn't want to give, and it may become very difficult to get them out. Be warned.

June 5, 09. Taking a powder for at least a while - big change of life coming up.
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We're saved! YesPlease promises that we'll be running cars on battery cubes about the size of a toaster.