Legal Question in Landlord & Tenant Law in California
I have been renting a unit in a calif. triplex for 4 yrs. The owner is selling & the new buyers RE agent told me they have a clause that my unit be vacant before escrow can close & that the seller wants to do a cash for keys deal. Is there any key wording I should I look for or look out for ? Who can draft it. Can I ask for a partial good faith payment upon my approval & signature on the agreement & can I ask for the balance in full upon vacating the apt.. Can either the the lender, escrow co, or buyer provide provide the last 2 payment.items . No rent control involved.
1 Answer from Attorneys
Usually, one of the conditions for the purchase of property is that the seller would deliver to the buyer vacant property. Therefore, you would be out before the sale were to close. More than likely, it would be the seller who would pay you the balance rather than from escrow or by the buyer.
You may ask for whatever provisions you wish. Your suggestion for progress payments is fine and it would show good faith on the seller's part. Of course, if you don't leave on time, there will be a provision in the written agreement signed in advance that might allow the seller to go to court the next day to obtain immediate judgment for possession against you if you don't leave on time -- which would not look good on your credit report, and would make it a lot more difficult for you to find a new place to live. The agreement might also include your payment of the seller's attorney's fees and costs for having to go to court.