I am contracting to purchase a property. The seller just informed me he will need approx 2 weeks after closing date to get out of the unit. He has agreed to a monthly rent of 750.00 pro rated daily and will leave the first month’s rent in escrow with my attorney from funds at closing.
How do I word this in a contract? He wants to sign the contract tonight so I don’t have time for attorney reveiw.
Thanks
hi,
i had this happen to me for a house in June. There are a few ways to do it but the way i did it was add an addenum to the contract. Under the additional terms, you would put something like:
seller will rent property from COE until start date to end date at a rate of $X dollars. Seller agrees to let buyer show proeprty from XAM to XPM daily during this period.
Looking back, I should have included something about the condition maybe. Because when the sellers left, they trashed the place and i had to hire someone to clean it up.
this is not advice coming from an expert, just a personal experience.