Early Occupancy, I Don't Think So!

Early Occupancy, I Don't Think So!During a transaction, the Buyer agent asked me, "Can my clients take early occupancy because their lease has ended and they need a place to go?"

My answer was, "No."  Of course, inevitably, the decision is my clients, not mine, but I definitely would advise against this.

It's almost like asking me if I'd ever buy a For Sale By Owner house again? And that answer is definitely "NO!" Just like FSBO means Buyer Beware, people taking early occupancy of a home before the transaction closes, could mean trouble as well.

If something went wrong before the transaction closed and recorded, it would be the burden of my clients to get the people out. Also, the property then becomes a rental property. And that definitely is not our goal!

When a buyer needs a temporary place to stay until the transaction closes, there are options, such as:

  • Stay with family
  • Stay with friends
  • Rent a room in a motel
  • Extend your current lease
  • Get a month-to-month lease

It's important that buyers have a Plan B available just in case the transaction gets delayed for any reason. And things do happen that are out of our control, so it's a matter of planning ahead to avoid such a situation.

 

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The Don Miller Group Team

The Don Miller Group Team

REALTORĀ®
CENTURY 21 Executives Realty Ltd.
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