Q: Is an "Agreement to Occupy after Closing" void if insurance requirement is not met by seller?
We are purchasing a home in Oregon. Seller wishes to remain in possession for 7 days after closing. Both parties have signed an Oregon standard "Agreement to Occupy after Closing " addendum, which requires that the seller provide renter's insurance naming the buyer as an additional insured with at least $500,000 liability insurance at least five days before closing. The seller has failed to comply with this provision. Is this agreement now void?
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