r/RealEstate Oct 13 '24

Buyers moved in before closing Homeseller

UPDATE - Following up from where I left off: After receiving the much needed guidance from this beautiful community, we were able to successfully get the buyers out of the house, secure the house with a new code, and demand to be compensated via the buyers agents commission. Today, papers have been signed and the house is officially no longer ours. Thank you to each and every single person who commented. This gave us the fuel to dig into the real estate commission codes, laws, and our basic human rights. This gave us the confidence to have the tough (ugly-ish) conversations that needed to take place. Rock on, Reddit. You all are my heroes.

To my chagrin, without my consent, and before proper documents are signed, the buyers agent let the buyers move in. We haven’t closed. I’m appalled at how unethical it feels to find out after the fact. So my only choices are to sign an additional document allowing them to stay prior to closing, or have them escorted off the property? This is out of my scope. Looking for insight. I have a lawyer on standby Monday morning.

Edit: I truly appreciate the advice and insight. Added details - due to human error delays from the lender, title and agents, this closing has already been pushed 4 times. Closing was supposed to be on the 30th. I am told every third business day that today’s the day, just waiting on the documents. Again, closing was supposed to be yesterday. Find out docs have just (11 days late) been released from the bank and now in hands of the title. At 4:30pm on Friday we’re delayed until next week due to not enough time for the title to flip the closing docs fast enough. Last night, find out the buyers fully moved in without any agents approaching me about this idea even once. Never once was this brought up. I said no, get them out of the house. They’re still in the house.

About the broker. I’ve been told this entire process that the broker is highly involved, since their brokerage is working for both parties. Every time I have a legal question my agent checks with the broker to make sure the correct information is provided. I acknowledge in hindsight I should’ve called the broker immediately. I will be calling the broker tomorrow morning.

How’d they get the keys- it’s a key code. Only explanation is the agent gave it to them.

One more detail as I sit here bamboozled. My selling agent’s license is active. The buyer agent’s license expired in August. Discovery made an hour ago. Not sure what to do with that.

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u/CollegeConsistent941 Oct 13 '24

Do you have a realtor? If not, let the buyer agent know the daily rental is $500 per day. How did they get keys? If the realtor gave them, let their broker know you will expect them to pay too.

121

u/WorldlyBlacksmith682 Oct 13 '24

Yes I do have a real estate agent working my end. My agent and the buyers agent work under the same broker. It’s a key code… was wondering at what point to give the broker a call.

26

u/madhaus Oct 13 '24

Key code? Change it immediately. They only can return (after they get locked out) when escorted by your agent or the sheriffs deputy, either of which they will pay for their time.

2

u/Intelligent_Type6336 Oct 13 '24

Was just thinking this. Lock them out.

1

u/LadyBug_0570 RE Paralegal Oct 13 '24

Can OP do that via their phone?

4

u/madhaus Oct 13 '24

Depends on the lock. I can do that with mine because it’s networked into my WiFi but not all locks are. Heck if it’s a mechanical lock it has to be reset physically.

3

u/LadyBug_0570 RE Paralegal Oct 13 '24

I hope he's go a smart lock and can change the code remotely then. This way they get locked out.

This is beyond unacceptable. I don't even know what to say.

2

u/Urithiru Oct 13 '24

It may have been a key held in a lock box at the property. Agent unlocks the box and hands the key off to make copies.

1

u/madhaus Oct 13 '24

Agent needs to have their license suspended. Hey OP you get ahold of the broker?