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Permalink Reply by Thom Colby CA Brkr 888-391-5245 on August 22, 2012 at 5:48am

No answers so far - that's interesting !

I think the denial of a short sale is the least of your issues;

 

Personally, I would NEVER let a buyer move into a property until after Closing.  There are too many issues / problems that can occur. 

Has the Seller kept the property insured?

What if the "Buyer" makes improvements while they are waiting to close and then,

What if the transaction doesn't close?

What if the Buyer moves in and decides they want to reduce the price after they start living there, how could you cancel that escrow and move onto another Buyer?

What if the "Buyer" won't move out if the transaction doesn't close?

What if they won't pay rent?

 

I think you need to do 3 things;

1) Consult with your Broker if you are not the broker of the office

2) Consult with your E&O provider

3) Consult with an Attorney