Mesa, AZ asked in Real Estate Law for Arizona

Q: buyer in Arizona asking for pre-occupancy agreement

We are three days before clise and our buyer has her down payment in to the title company. The loan documents are going to be delayed pending her submission of pay stub. She is now asking for pre-occupancy agreement. Does this put me, the seller at risk?

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1 Lawyer Answer
Stephen J Gonzalez
Stephen J Gonzalez
  • Tucson, AZ
  • Licensed in Arizona

A: Yes it does put you at risk. Too many potential issues if the sale does not promptly close. Not a good idea. If you do it, you should have a well drafted pre-occupancy agreement and get a deposit.

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