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Updated over 5 years ago on . Most recent reply
Post occupancy agreement for buyer
Hi Everyone, I have a question. I am supposed to close on a 2 family apartment next week and just learned the owner wants a use and occupancy agreement up to 6 months. I originally agreed to 3 days and that is the in contract. What are your thoughts on a 6 month use and occupancy agreement vs a 6 month lease? How should I decide what to do? On the one hand its immediate income but if the seller moves out after 3 months then I could be looking for a renter in December/January which is hard. Would love your thoughts! Thanks
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This is not uncommon in Texas. There's a TREC seller's temporary lease form used for this exact purpose.
I agree with @Dante Feria, get it all paid upfront from the proceed (this is how I've typically done it).
Best of luck!
- Cameron Tope
- [email protected]
- 832-802-0848
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