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🏡Closing Insights💡
When utilizing the NVAR Post Settlement Occupancy Agreement, the Seller’s obligation to maintain the property condition does not end when they vacate (if they vacate before the Deadline), unless there is an agreement that the Buyer will take exclusive possession early.
Consider this when negotiating for extended post occupancies when the Seller doesn’t fully intend to use the time negotiated for.
Alternative options would be to choose an earlier Deadline with an optional extension at the discretion of Seller; or to add a term that the Seller’s date of vacation shall be the Deadline, if they give proper three day notice to leave early.
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MBH ULTIMATE HOME BUYER GUIDE
Virginia Home Buyer Guide
A comprehensive guide to buying a home in Virginia including contract explanation and useful tips. Includes NVAR Jan 2024 Contract info.
Maryland Home Buyer Guide
DC Metro Home Buyer Guide
Coastal Virginia Home Buyer Guide
A comprehensive guide to buying a home in Coastal Virginia including contract explanation and useful tips. Includes REIN Contract info.
Virginia Home Buyer Guide SPANISH
A comprehensive guide to buying a home in Virginia including contract explanation and useful tips. Includes NVAR Jan 2024 Contract info.
Maryland Home Buyer Guide SPANISH
A comprehensive guide to buying a home in Maryland including contract explanation and useful tips. Includes MAR Contract info.
DC Metro Home Buyer Guide SPANISH
A comprehensive guide to buying a home in Washington, D.C. including contract explanation and useful tips. Includes GCAAR Contract info.
Coastal Virginia Home Buyer Guide SPANISH
A comprehensive guide to buying a home in Coastal Virginia including contract explanation and useful tips. Includes REIN Contract info.
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