California house buyers pay $560000 at start of pandemic but can’t move in bc covid

doc holliday

Pelican
Gold Member
Know the rules
Know when and how to break them
Stop being sheep

Do you think "they" play by "the rules"?

Honestly this needs to be repeated over and over again. If the elites aren't playing by the rules then why should any of us. Over the years, I have found that there is always a hack, a loophole, some way to skirt a rule or law to do what you want to do. The days of just playing by the arbitrary rules set by the elites are long gone.
 
Something tells me this isn't the whole story and is simply being reported as such to create sensationalism on both sides (i.e. some will side with the "poor" seller and defend that he has nowhere else to go, while others will take a capitalist stance and say the buyers are the victims and should exact revenge).

For starters, there were no lockdowns and COVID rules in the United States, in January 2020 when the sale allegedly closed. What I would guess is being left out is there may have been a "Rent-Back Agreement" which was negotiated as part of the sale. A rent-back agreement will permit the seller to remain in the house for an additional X number of months as essentially a renter. The details can be ironed out during the sale, but it can even be worded such that they do not have to even make monthly rent payments and have the total amount deducted from the initial sale price.

Now let's assume the sale closed end of January 2020, and they had a rent-back in effect for 2 months, bringing the actual date that the seller needs to vacate the premises to end of March 2020. Welcome to lockdowns and COVID no-eviction rules for "renters". Technically, the seller can proclaim to be a renter, even though there is no traditional lease agreement in place.

That's just an assumption, but it's a fairly common practice which could very well have been the case.
 
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