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?
A: You should contact a real estate attorney to have them review the document that was signed as there could be additional facts or language of the document which could affect the analysis of your question.
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