A buyer wants to move in before your appointment with the notary?
Published on October 10, 2019
You’ve accepted an offer to purchase, your boxes are packed and you’re about to vacate the premises. Now your buyer is asking to take advantage of the few days before your appointment at the notary’s to move in their furniture or start some reno work. Think carefully before you agree!
Preoccupancy is a risk. Remember that accepting a promise to purchase is not the final step in completing the real estate transaction. You still have to go before the notary.
Until the notarized bill of sale is signed, the seller remains the owner of the property.
Should the sale not go through for some reason, you might have a problem on your hands. Consider what will happen if the buyer has started extensive renovations, like changing the roof, and leaves you with the job half done.
Sign an agreement
If the buyer is set on occupying your property before the scheduled date, prepare a written agreement that indicates the nature of the work the buyer plans to do, the precise period of occupancy and what will happen if the sale does not go through.
You can then have this agreement checked by a notary or lawyer to avoid any potential headaches.