Moving is an activity people rarely consider “fun”. Even if the house your are moving into is your dream home, the transition from old to new is still tough. So much that if a seller offers you the opportunity to move in to your Tahoe Keys home for sale, you may jump at the chance. But hold on folks! This may not be the best idea-for both the buyer and seller.

If you must move in, move in with caution. Buyers tend to lose some of their negotiation power when they move in before the close of escrow. After all, if any title issues arise (think liens, old mortgages, etc.), your possessions are all in the house which causes you to lose some leverage. Additionally, you may forfeit your ability to negotiate any last minute issues like a problem with the home’s condition. This is why I strongly recommend an inspection and a final walk through prior to taking possession and moving in all your belongings.

Other possible scenarios that you could face as a buyer moving into your home for sale in Lake Tahoe include:

• Who pays for utilities? If the seller expects the buyer to pay, and the seller doesn’t want to because they haven’t officially “closed” yet, any kind of argument could delay closing.
• Now let’s talk about insurance coverage. Let’s say a horrible scenario happens like flooding, a fire or a theft. A home insurance policy isn’t in effect until the Tahoe Keys home is legally (key word here) in the buyer’s possession. If your current home covers “off property” coverage, then you could be ok depending on the percentage the policy covers.

Seller’s also need to be wary. After all, what if the deal falls through last second? Or even worse, what if there is damage done to the home for sale in Tahoe Keys during the move or someone injures themselves during the process? The seller’s home insurance claim could be tarnished and obviously they would be liable for injuries. Not to mention, if the deal does fall through, they could have to deal with a long and expensive eviction process.

If this is an option that you may be thinking about as the seller or the buyer, be sure to discuss it with your qualified Lake Tahoe realtor, an attorney and your home insurance agent. The phone call could save you a lot of stress, trouble, money and more. For any questions regarding Tahoe Keys real estate, call Peter Delilli at 530-308-4331.