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For bank-owned properties, is it OK to ask for an early buyer possession?

My family is currently renting and really needs to move by the end of the month. We've decided to buy (given the current housing market) and our offer has been accepted on Wed., 8/13, but we haven't closed yet. I heard it may take up to 45 days. So, can we ask this bank-owned property for an early buyer possession? Thanks!

Public Comments

1. No. It’s not ok to ever ask for access to the house before you’ve closed. Whoever owns the house is liable for any injuries you sustain while you’re in the house. The owner also has no guarantee you won’t damage the property and then at the final walk through announce you don’t want the home due to condition. Any time you’ll be on the property before you’re the legal owner, your buyer’s agent or the listing agent must be present. Your closing date is written in the accepted contract. You should know when that day will be, and you cannot be alone in the property until then.
2. You can ask, but based on my experience they will likely say no. The bad part of buying from a bank is they don't follow normal procedures. Our closing went three weeks longer than it was supposed to because someone somewhere didn't file the right paperwork. We got a great deal, it just took a lot longer than we thought it would. Unlike Realtors, no one at the bank makes any extra money for your house being sold. Unfortunately that tends to mean they don't care too much...good luck!
3. You could try,but I never heard of it happening before. If you are literally out of the old apt,or living in a motel you could press the issue by start moving your stuff into the house, I don't see who would challenge you on this. If you get caught, just play like you didn't know .
4. Unfortunately, you will never get it. The lender will never take the risk of: 1.) You not closing and then they would have to evict you. 2.) Their insurance would never allow it. Go ahead and ask but the answer will be NO. Ask your current landlord for an extension to your lease. Be willing to pay more than you are currently - it's cheaper than moving twice.
5. You can ask, of course, but you will be denied. No one in their right minds allows buyers to take possession and move in before the actual closing. Most assuredly a lender will turn down your request.
6. There is no way. Other then the fact that you have not closed, and may neer close, the bank would be liable for you and have to not only take out insurance, but become landlords, which they are not.