Were your inspections performed within the time periods allowed by the contract? Were the negotiations also performed within those bounds?
If you followed all of your obligations of the contract, and the seller is skirting his issues, I might make some forceful demands. However, if you were a little late with your inspections or negotiations, I wouldn’t try to play hardball…
I WOULD demand the advance rent paid by the tenants, as well as their security deposits if they remain in the house after closing.
I am in escrow to purchase a home in Maui. There are tennents in the house and in my contract in says the home will be free of renters at the time of closing. Since my inspection and negociations on the price took some time the seller’s agent did not give the 45 day notice until a couple of days ago. This means that I will be closing before the renters will be moved out by about two weeks. I have asked the seller to hold back $5000 in escrow in case I have to evict the tennents. The seller’s agent says no and that it is my fault for taking so long to inspect the property. The seller’s agent says it is my problem to deal with and that I become the property manager after I close the deal. I could extend closing but since interest rates have gone up I will be out $5000 in points to keep my fixed rate of 7%. Does anybody know what kind of recourse I have in this? Since the seller’s agent did not give notice in time isn’t it their problem to deal with? Help. Maybe I need a Lawyer.