Updated over 5 years ago on . Most recent reply
TEMPORARY OCCUPANCY AGREEMENT FOR BUYER PRIOR TO CLOSING
What are typical "Additional Terms" that you have seen expressed in a TEMPORARY OCCUPANCY AGREEMENT FOR BUYER PRIOR TO CLOSING AMENDMENT/ADDENDUM?
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100% agree with @Marc Winter
If at all possible avoid it. Nothing good ever comes. After being in the house for 2 days they notice they don't like the way the sun comes in the back window. No longer want the property. But since they have nowhere to go you're going to have to evict them. Well if you can with Covid going on......
The only way I do it is with a considerable amount down (Over $10,000 to cover the risk). They pay rent per day (always enough to cover the costs of the mortgage etc). And they sign off on final inspection prior to moving a sock into the house.
- Mike Cumbie