If I know that I won’t be able to close my purchase and sale at substantially the same time, should I include something in the contract to address this?

Updated March 13, 2023.

Yes. Terms of an occupancy agreement can be negotiated at the time of the contract. In this way, both parties are aware of the need for occupancy from the start and potential problems can be avoided in the future. The standard contract form, used by most real estate agents, contains an optional provision regarding occupancy. However, a separate occupancy agreement should still be prepared by your attorney, incorporating all the significant terms and conditions of the occupancy–not just those set forth in the purchase agreement.

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