That is how I always thought it was, you were out by closing but our realtor said it is customary here in CA to give the previous owners three days after closing to get out. Our sellers (well the husband) is in a wheel chair so it doesn't bother us too much.
After we made our offer I got buyers remorse and wished that it didn't appraise or they found something at the inspection. Now I want it to pass inspection with every fiber of my being because it really was the best house we saw out there.
As a realtor, it makes me real tense to have sellers stay past closing....I've had it be ok ...and not be ok. You would be amazed at the damage 4 parrots, who are let loose in a house, can do!!!

You sound like my brother re: the buyer's remorse. He didn't want to move...they lived inside the Chicago city limits with a really good elementary school across the street (old neigborhood, 3 story old, old schoolhouse, charming area)...but my SIL works in Northbrook and wanted the kids in school closer than 45 minutes away in case of emergency. So they were only looking in Northbrook. The first house had water problems in the basement. The house they are getting is a similar situation to yours...it's the best they could find in a hurry and agree on. My SIL was insisting they buy and he wanted to rent and really take time to find what they wanted. The prices there are almost as bad as where you are...I was stunned....3x's what it would have been here for a similar house in the best school district!!! I keep telling myself that I would make a lot more money in a market like that...but then I see the cost of living....and it would all be relative.