30 days to vacate before they own?

[lreynolds]

What is the name of your state?What is the name of your state? Colorado

We met buyers as they were going through the neighborhood with their realtor. Our house was not listed yet and we didn't have an arrangement with a realtor so when their realtor pressured us into selling the home at a significant discount, we felt fortunate to have a contract so quickly and didn't even have to show the home.

Then things went south...

Their realtor agreed to act as our transaction broker for a small additional percentage. The buyers would allow us to rent back until June 1 because I had to continue working until then. They did have a clause that stated that they could give us 30 notice and ask us to vacate if they sold their house early. Their realtor assured us that this would never happen. She said that they probably wouldn't sell their house until June and if they did get a contract on their house, they would not sign it until we were first consulted about move out dates.

One week after we signed this contract they sold their home. They immediately gave us 30 days notice. We assumed with the contract that they couldn't give us 30 days notice until they owned the house and since the closing date is set for Feb 28 that we would have at least until March 30.

We are trying to reason with their realtor asking to stay until March 25. They are not budging. Now we are wondering if we can get out of the contract. We have asked about mediation because this was specified in the contract but their realtor has left town and will not return until the day before closing. She tells us we can go to mediation after closing but it seems dangerous for us to close and not have mediation first.

Can they give us 30 days notice when they don't own our house? What else can we do without agreeing to be bullied into leaving so soon?

Thanks for your help.

Linda

 

[HomeGuru]

What is the name of your state?What is the name of your state? Colorado

We met buyers as they were going through the neighborhood with their realtor. Our house was not listed yet and we didn't have an arrangement with a realtor so when their realtor pressured us into selling the home at a significant discount, we felt fortunate to have a contract so quickly and didn't even have to show the home.

Then things went south...

Their realtor agreed to act as our transaction broker for a small additional percentage. The buyers would allow us to rent back until June 1 because I had to continue working until then. They did have a clause that stated that they could give us 30 notice and ask us to vacate if they sold their house early. Their realtor assured us that this would never happen. She said that they probably wouldn't sell their house until June and if they did get a contract on their house, they would not sign it until we were first consulted about move out dates.

One week after we signed this contract they sold their home. They immediately gave us 30 days notice. We assumed with the contract that they couldn't give us 30 days notice until they owned the house and since the closing date is set for Feb 28 that we would have at least until March 30.

We are trying to reason with their realtor asking to stay until March 25. They are not budging. Now we are wondering if we can get out of the contract. We have asked about mediation because this was specified in the contract but their realtor has left town and will not return until the day before closing. She tells us we can go to mediation after closing but it seems dangerous for us to close and not have mediation first.

Can they give us 30 days notice when they don't own our house? What else can we do without agreeing to be bullied into leaving so soon?

Thanks for your help.

Linda

**A: please post the 30 day notice clause in the contract exactly as it is written, word for word without your interpretation.

 

[HomeGuru]

What is the name of your state?What is the name of your state? Colorado

We met buyers as they were going through the neighborhood with their realtor. Our house was not listed yet and we didn't have an arrangement with a realtor so when their realtor pressured us into selling the home at a significant discount, we felt fortunate to have a contract so quickly and didn't even have to show the home.

Then things went south...

Their realtor agreed to act as our transaction broker for a small additional percentage. The buyers would allow us to rent back until June 1 because I had to continue working until then. They did have a clause that stated that they could give us 30 notice and ask us to vacate if they sold their house early. Their realtor assured us that this would never happen. She said that they probably wouldn't sell their house until June and if they did get a contract on their house, they would not sign it until we were first consulted about move out dates.

One week after we signed this contract they sold their home. They immediately gave us 30 days notice. We assumed with the contract that they couldn't give us 30 days notice until they owned the house and since the closing date is set for Feb 28 that we would have at least until March 30.

We are trying to reason with their realtor asking to stay until March 25. They are not budging. Now we are wondering if we can get out of the contract. We have asked about mediation because this was specified in the contract but their realtor has left town and will not return until the day before closing. She tells us we can go to mediation after closing but it seems dangerous for us to close and not have mediation first.

Can they give us 30 days notice when they don't own our house? What else can we do without agreeing to be bullied into leaving so soon?

Thanks for your help.

Linda

**A: please post the 30 day notice clause in the contract exactly as it is written, word for word without your interpretation.

 

[seniorjudge]

**A: please post the 30 day notice clause in the contract exactly as it is written, word for word without your interpretation.

 

[lreynolds]

exact wording

Here is the exact wording under Additional Provisions...

1. Buyers reserve the right to change finance terms and conditions so as not to affect the sellers net proceeds or delay closing.
2. Sellers may rent back for $2,000 per month for a mutually agreed upon date not to exceed June 1, 2005. Buyer's Will notify Seller's 30 days in advance of date required to vacate. Rent is to start on March 1, 2005.

Thanks,

Linda

 

[FanofHal]

hmmm

Does it really say "Thanks, Linda" on it.

 

[lreynolds]

Does it really say "Thanks, Linda" on it.

NO I added that part

 

[ENASNI]

well..

Acck. Linda... I think you been screwed.

 

[seniorjudge]

Q: Can they give us 30 days notice when they don't own our house?
A: Yes.

Q: What else can we do without agreeing to be bullied into leaving so soon?
A: You are not being bullied because you signed an agreement that said: "...Sellers may rent back for $2,000 per month for a mutually agreed upon date not to exceed June 1, 2005. Buyer's [should be Buyers] Will notify Seller's [should be Sellers] 30 days in advance of date required to vacate. Rent is to start on March 1, 2005."

Other than the abysmal grammar, it looks pretty clear.