Rent our own house - when to pay buyer?

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Submitted by HarryBosch on March 28, 2008 - 7:49am

When a homeowner becomes a renter of their own house at what point should they pay - hand over a check - the future buyer rent (1st and last or 1st plus deposit, etc.) during the escrow process? One month before closing? Two weeks before closing? The day after closing? (And what contingency should a lease agreement include to protect the seller - me - from losing my deposit should the sale fall apart before the close of escrow?)