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LOSE OF RENT BEFORE CLOSING

LOSS OF RENT --OUR BUYER WANTS RENTERS TO BE GIVEN A 35 DAY NOTICE AFTER QUALIFYING--THEY HAVE ANIMALS/ KIDS SO WE WOULD LIKE TO GIVE THEM A HEADS UP, BUT THIS WOULD ALSO ALLOW THEM TO MOVE OUT BEFORE CLOSING CAUSING RENT LOSS. WE ARE WONDERING IF WORDING MAKING THE BUYER RESPONSIBLE FOR LOST INCOME PRIOR TO CLOSE IS WARRANTED ESPECIALLY IF CLOSING IS DELAYED--GIVEN THE WAY BANKS DELAY THINGS FOR REASONS KNOWN ONLY TO THEM?  ANYONE HAD A SITUATION SIMILAR?
  • June 22 2011 - Wilsonville
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Answers (1)

I strongly suggest for you to consult a real estate attorney. This is not something a lay person can help you with (or you should take advice from). An attoney can help you with legalese that would be considered by another attorney should there be a problem in the transaction.
  • June 26 2011
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