We recently sold our house in October 2014 and the buyers experienced a roof leak about a month after closing. The sale closes, and your family moves into the home. This seems like trouble waiting to happen. There is no set rule as to when occupancy must be granted. Seller promises at closing that contractor would be contacted to eliminate the issue since they paid for it. The taxes are still in my name. We think the buyers may try to sue us to replace their roof. You perform your due diligence and negotiate a price, then finally sign the sales contract with the seller. We replaced the roof right after moving in about 7 years ago. Some sellers provide occupancy at closing. When these situations arise, some of the purchase price (often a daily fee) is … Mr. Abramson said that among the common reasons that a seller needs to stay in a house after the closing is that he needs the proceeds from … A post-closing possession agreement allows a seller to remain in the apartment beyond the closing date. The seller wants some extra time after closing to stay in the house. Imagine that, after saving money for many years, you finally buy a home for you and your family. I want to tell everyone a little story about Occupancy After Closing and why it is so important from a buyer's position to have a written document. Buyers and sellers generally agree to this when the seller is not ready to move—a more frequent occurrence these days. If a seller wants to stay in the home after closing, the buyer and seller should have a written agreement setting out the expectations for that post-closing possession between the parties. Not to long ago, I represented a buyer who purchased a home in Hendersonville, Tennessee located in … The last thing you want is a landlord-tenant relationship. The seller is buying another house but may have trouble closing on their new place, and they have a bunch of college & post college kids who are also staying in the house. The amount of time a seller will have to occupy the property after closing is negotiable between the parties. What happens when real estate taxes are still in the seller’s name years after closing? it spells out the terms of the seller's occupancy of the house after closing, & acknowledges that the seller is now a tenant & that you are the landlord." We did NOT have any issues with leaks prior to selling the home. The seller does not disclose that there any major defects with the home. That can create more problems than it solves since you would then have to deal with any landlord-tenant laws. Do they have a case? 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