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Residence After Close

The folks currently living in the home Carey and I bought asked for "15/DAC" or "15 days after close" before possession is turned over. We asked our realtor if that was unusual, and she said "yeah, you don't see it very much, but people often do that because they're not sure they can find a place and move in the time they need to. They usually don't need to use any of the time."

It's not as unusual as I thought, either. Here's a house in a nearby neighborhood, and they're requesting thirty days after close (and $8700 down, for some reason - Carey and I put $5000 down and it was a bit more than the closing costs).

We can also pro-rate the water and electricity bill. My real estate agent is now on vacation in Florida, so, I'll be talking to her in about a week, I guess.

One Response to "Residence After Close"

  1. It's not that unusual. We did it when we moved in to our existing home, which was a new construction. We were limited as to when we could move in to it, and we rented our old house from the new owners for 16 days.