Closing

Usually you don't want that. Once the closing happens, the buyer owns the property and any damage to the property, even in 48 hours, is the new owner responsibility. It's really not a good idea.

There is no rule. The buyer and seller can agree to anything they want. The seller often wants time after the closing, but #2 is right - that can create a lot of problems regarding damage and insurance issues (if the seller hurts themselves during that time, they would likely seek coverage under your homeowner's policy, as their policy would no longer be in effect as they no longer are the "homeowner"). You have the ability to agree to let them stay and rent it back to them, but you don't have to do that. I assume you signed a contract already and there is no clause in it that allows them to stay. We had a similar problem and insisted the seller move because we needed to perform the walk through the day of the close and move in the next day (our rental lease was expiring). Also, if they stay and move out after the close, you will hav a heck of time recouping money if they break something during the move or leave the place a mess for you.

or if they choose not to move out after the agreed upon time period you are forced to take the legal steps necessary to get them out.

There was another post about sellers staying after the close.

I just bought and the seller originally wanted the option to stay, my lawyer flatly said no way. Just not a good idea, even if it's for a day, can give rise to too many issues.

If it's only 48 hrs, why not push down the closing date?

I agree with #4; they could become squatters & I believe it could take you months to get them out. Most people are fine, of course, but considering the downside, I'd say it's a chance you don't want to take.

thanks everyone.

what does everyone think about having a walk through before the sellers officially move out?

No way. Same issues about damage....what if the movers put a huge gouge in the wall?

Have both walk through and move out scheduled before closing.

Same with #8. Gotta have the place empty and clean before the closing. No telling what happens if you do it while their junk is still there.

All these people are idiots. If the seller remains in the unit you should execute a Use and Occupance Agreement which will protect you against losses. There is prohibition in New York law against two parties agreeing to same.

tenants have strong rights - if they do not move out, it will take you quite a bit of work/money/time to evict.

Just get them out and reduce the stress.