Business: Should You Allow Buyer To Rent During Closing?

Should You Allow Buyer To Rent During Closing?

Written by Mark Walters

Should You Allow Buyer To Rent During Closing?

It's not uncommon for an investor to sell a house and have repparttar buyer request repparttar 135638 right to rent and occupy repparttar 135639 property while repparttar 135640 closing is being completed.

You're a bad guy if you refuse and often in hot water of you agree. Here are repparttar 135641 potential problems with renting before closing:

1. Buyer is in repparttar 135642 home for two months and then repparttar 135643 potential lender decides repparttar 135644 buyer can't qualify for repparttar 135645 mortgage loan. Now that's bad news!

2. Buyer is in repparttar 135646 home for two months... gets a bad case of buyer's remorse and wants out of repparttar 135647 deal. Now that's bad news!

3. Buyer is in repparttar 135648 home for two months and comes to repparttar 135649 closing table with a long list of needed repairs he has discovered during residency. Now that's bad news!

4. Buyer is in repparttar 135650 home for two months during which time he does serious damage to repparttar 135651 property and then disappears. Now that's bad news!

Is there any good news? Well, you are getting rent money for those two or so months.

Let's check repparttar 135652 score card:

Bad News = 4 Good News = 1

I would say that repparttar 135653 investor comes out on repparttar 135654 short end of that game. Let's agree that repparttar 135655 only time you rent during closing is if you are in dire need of that rental income.

The Real Estate Disputes And Partition

Written by Mark Walters

What if two people pooled their resources and began investing in real estate. Like many partnerships things progress smoothly for a while and then a dispute arises.

Now they seldom can stand to talk to one another and then only through clenched teeth. A sad story, but one that is not uncommon.

What if they have an undivided interest in a fourplex. They want to end their investing enterprise, but they can't agree on repparttar disposition of repparttar 135637 property?

An action for partition may be repparttar 135638 only solution. That means one of repparttar 135639 investors turns to repparttar 135640 court to decided how and when repparttar 135641 interest in repparttar 135642 property will be divided.

In a partition action repparttar 135643 owner or claimant of real property or any interest in repparttar 135644 property may compel a partition (division) of repparttar 135645 property between him and other owners. It may vary from state to state, but in Arizona repparttar 135646 partition complaint is filed in repparttar 135647 superior court of repparttar 135648 county in which repparttar 135649 property is situated.

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