Temporary Occupancy Agreement For Buyer Prior To Closing

Often, the agreement states that the user and occupancy agreement is only a “license” for the use and use of the premises. 2. The home buyer moves and the options for the residence are (a) the house they are buying or (b) intermediate accommodation, such as a hotel or short-term rental which is often extremely expensive. Real estate transactions consist of many moving parts. Sometimes, especially when it comes to financing, these pieces don`t fit together well enough to get to the billing table on time. In such situations, a use and occupancy agreement can help. Read on below to learn more about what a use and occupancy agreement is, how it works, and how you can use one to keep your transaction cohesive in an emergency.