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when can i move in after i did closing fees

I'm paying a home with cash ( no loan)
i want to know when can i start to moved in and when do i get key?
its a short sale house and the bank didn't approved me yet.
but i want to know when does seller going to move out and when do i get key?
seller is still living in that house.
what about the bills? ( property tax, HOA dues, garbage, water, sewer, electric, ) 
does seller going to pay for that before he moves out?
for example: what if he moves out on Jan 20 2014. 
then he needs to pay the bills for Jan 1 - Jan 20..
but how? the bills comes every 1-2 month.. how is he going to pay 20 days of utilities bills? or do i have to pay for it? since I'm the buyer?
and Do i really need to hire inspector and pay $300-$400 for inspect the house?
is that really worth? the seller told me there is nothings wrong, but that could be lie also right? i want to know hiring inspector is worth or not. 
thank you
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January 01 - South Tacoma
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Answers (1)

This group of questions are good ones but since there is very little information given about the house, my answers are general "best guesses" since I don't know about the specific situation with the house you are buying.

i want to know when can i start to moved in and when do i get key?

That all depends on your closing date and that is determined between the bank and you through your realtor.  Since you are working with a bank on a short sale, this time can vary a lot depending on many factors including how eager the bank is to move the bad loan off of their books and potentially avoid the costs associated with a foreclosure.

but i want to know when does seller going to move out and when do i get key?  

The seller has to be out at the date agreed to by the bank and you.  If the bank approves the short sale, they are doing the seller a favor by letting him or her sell their house for less than the amount that is owed to the bank.  Because of that, if they are smart, they will cooperate. However, the rules for short sale debt forgiveness have changed the amount of cooperation can vary since debt forgiveness rules and consequences have changed. 

what about the bills? ( property tax, HOA dues, garbage, water, sewer, electric, ) 
does seller going to pay for that before he moves out?

All of the property taxes, HOA dues, garbage, water, sewer and electric are only your responsibility after the date of your occupancy or closing (unless you agree to pay past due amounts to the HOA--which some HOAs can require, or agree to pay the past due utilities but there is no reason for you to take those debts on because they were incurred by the seller, not you)  

for example: what if he moves out on Jan 20 2014. 
then he needs to pay the bills for Jan 1 - Jan 20.. 
but how? the bills comes every 1-2 month.. how is he going to pay 20 days of utilities bills? or do i have to pay for it? since I'm the buyer?

All of the utilities are ultimately the responsbility of the seller.  When you find out what your closing date and date of occupancy, you then call the utilities to have the bills put into your name after that date.  Some utilties can get a lien placed onto the property for unpaid utilties so you need to make sure that the payment of those debts are taken care of for all days prior to your closing and your date of occupancy.

Do i really need to hire inspector and pay $300-$400 for inspect the house?
is that really worth? the seller told me there is nothings wrong, but that could be lie also right? i want to know hiring inspector is worth or not. 

Obataining a home inspection at your cost is one of the most important things that you can do.  In a short sale, you are buying the house "as is" and you can most likely not get the seller or the bank to pay for repairs.  However, a home inspection can uncover damage that is not known of by the seller or the bank, assuming that the seller does an accurate job filling out the property disclosure form.  The seller is not supposed to lie on that form but every seller is different and they might not have knowledge of a problem or they might conveniently forget to mention it, especially if it might make their home harder to sell.   Most people are honest but are you willing to bet on that when you don't have to?

The 300-400 dollars that you spend on an inspection can be the best money you spend if it uncovers damage that was not known and/or disclosed by the seller, especially if they find something like thousands of dollars worth of mold in the crawlspace, walls or attic or perhaps find thousands of dollars worth of dry rot anywhere in the house.  If you have an inspection and get your report back within the allowed for time frame, your disapproval of the inspection can enable you to cancel  your purchase contract, based on the findings of the inspection.  So, yes, it's a pretty good idea to protect yourself.  However, a home inspection by a licensed inspector is not a guarantee of finding all defects as they can only find what they can see.  However, not doing one places you at higher level of risk of buying a home with potential problems that could cost thousands of dollars to repair.

I hope that helps you with your purchase.  



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January 02
 
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