It is quite normal as long as you have a rent back agreement in place, otherwise no, it is not normal. If a closing falls through, typically the deposit would be forfeited as compensation for losses.
Quote:
Originally Posted by Jerry C
It is quite normal. Often a seller has 30 days, sometimes less, sometimes more to vacate. It is becoming more common to give immediate possession to buyers but by no means is it wrong to allow this extra time. There should be a clause signed that stipulates how long it will be, and... that the home will be in the same condition as it was st closing.
Sometimes deals fall through. if an owner moves out by closing and it falls through, losses are incurred.
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