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However, there is certainly no „type“ use and occupancy agreement; there are several common provisions in a use and occupancy contract. 1. Rate: Most use and occupancy agreements indicate a buyer-to-seller tax for the use and occupancy of the property. There is no industrial standard, but a common set is a day of „transportation costs“ from the seller for the possession of the property. Transportation costs are calculated by adding up the daily mortgage (if any), taxes, insurance and condominium/HOA fees (if applicable). If the closing time is delayed due to the seller or a property discount on the property, the price is often nothing or nominally. When a buyer and seller sign a real estate contract or a sales or sale contract, they agree in advance to the terms of the transaction; z.B. purchase price, amount of deposits, inspection and mortgage financing quotas and other provisions. One of the terms of the agreement is a transfer date for the title, which is called the „closing date“ in the contract. Although it is a completion date, it is in fact a closing period and a substantial part of the contract.

As a general rule, the purchase or purchase and sale contract (P-S) provides that the seller will plow the property before closing, remove all personal belongings and leave only items that have been agreed, such as the refrigerator, washing machine and/or dryer. The home buyer takes one last walk through shortly before closing to make sure the property is agreed in the state, sometimes called swept state sweep. The buyer may enter the house or keep personal belongings only after closing, the deed is registered and the proceeds (money) are paid. What a use and occupancy contract does is that the buyer of the house can enter the property before making the final purchase, subject to certain agreed conditions. The obvious advantage is that the buyer can avoid having to move twice (or more) and offers them a smoother transition after closing in the new home. Of course, if the buyer was homeless, but for the possibility of moving in before the registration deadline, that would also be a great advantage. In this case, while you are directing the agreement, the more specific you can be, the better. They want to ensure that the duration of the agreement is clear, as well as explicit conditions as to what should happen when it expires. Also, if you have certain guidelines that you want to follow by buyers, such as . B do not invite craftsmen during this period or make any major changes to the property, make sure they are specified in the agreement. Given the delicate distinction between a lease agreement that transfers „property“ and a licence that grants „only the right to use the premises,“ it is important for the parties to such an agreement to ensure that the agreement is merely an occupancy and occupancy licence, not no longer. First, it is probably not a bad idea to characterize and characterize the agreement between the parties as a „licence for use and restricted occupancy“ of the premises as issues, not just a „use and occupancy agreement.“