Closing Agreement Form PDF Details

The Closing Agreement form serves as a crucial document in the realm of real estate transactions, particularly addressing the nuances when a buyer agrees to occupy the property prior to the official closing. It acts as a supplement to the primary Agreement to Buy and Sell Real Estate, ensuring that various safeguard measures are in place to protect both parties involved. Within this agreement, a myriad of facets are covered, including the initial deposit beyond the earnest money, occupancy fees and their payment structure, utilities management, and the conditions under which the buyer may make improvements or alterations to the property. Furthermore, it outlines the responsibilities of the buyer towards the maintenance of the property, adherence to laws, and the insurance requirements until the closing date. The agreement also specifies the procedures and consequences should the sale not proceed as planned, including the vacating of the premises and financial obligations for any improvements made by the buyer. With provisions to safeguard the seller from any liabilities arising during the buyer's occupancy and clauses emphasizing that the agreement does not establish a landlord-tenant relationship, this document is designed to ensure clarity and fairness for both the buyer and seller. Thus, its comprehensive approach to addressing pre-closing occupancy makes it an indispensable tool in real estate transactions.

QuestionAnswer
Form NameClosing Agreement Form
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namessample post occupancy agreement florida, early occupancy agreement template, pre closing occupancy agreement florida, post closing occupancy agreement sample

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BUYER'S AGREEMENT TO OCCUPY PRIOR TO CLOSING

In reference to the Agreement to Buy and Sell Real Estate between:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

, the Buyer(s) (hereinafter called

called "BUYER"), and

 

 

 

 

 

 

 

 

 

 

 

 

, the Seller(s)

(hereinafter called "SELLER"), dated

 

 

 

 

, covering the real property known as:

Lot

 

Block

 

 

Section

 

 

Subdivision

 

 

 

 

 

Address

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tax Map #

 

 

 

 

 

 

 

 

 

 

City

 

 

Zip

 

County of

 

 

 

 

 

 

, State of South Carolina.

 

 

 

 

WITNESSETH:

1.The agreement shall be a supplement to and a part of the above mentioned Agreement to Buy and Sell Real Estate, which said agreement will otherwise remain in full force and effect.

2. The Buyer hereby deposits with the Seller's agent the sum of $which is in addition to the

earnest money previously deposited by the former on the signing of said Agreement to Buy and Sell Real Estate. Should the Buyer default under said Agreement to Buy and Sell Real Estate, then all said monies deposited may be retained by the Seller for damages including but not limited to damages caused by pets, etc.

3.

The date of occupancy by the Buyer shall be

 

.

 

4.

The Buyer agrees that the per diem occupancy fee of $

 

 

shall be paid

in advance, due by the first of each month and paid to the date of closing. Said occupancy fee shall be made payable to

.Unused prepaid rent is to be credited to Buyer at closing. If Buyer fails to pay the occupancy fee by the fifth of the month, the Buyer shall vacate the premises immediately, no other notice shall be given. Time is of the essence.

5.If, at fault of Buyer, the sale is not closed by agreed upon closing date as stated in the Agreement to Buy and Sell

Real Estate or by

 

, the rent will be $

 

per diem, commencing on

.The acceptance of this rent shall not be deemed a waiver of any other rights accruing to the Seller under this or any other agreement, contract, or law.

6.Buyer agrees to have all utilities and services in their name except

.Those services and utilities not in Buyer's name are to be prorated from date of occupancy.

7.Should the sale not be consummated on or by the closing date set forth in Section #5 of this Agreement, the Buyer

agrees to vacate the property within days from receipt of the notification by the Seller. In this event, the Buyer

agrees to promptly pay all third parties for work, labor, and materials incurred or supplied for improvements to the property made or contracted for by the Buyer or during their occupancy and all such improvements shall become the property of the Seller. Buyer shall be responsible for any damage, other than ordinary wear and depreciation, done on or to the premises.

8.Buyer agrees to refrain from undertaking any alterations to improvements and/or land without prior written consent of Seller, until closing the transaction.

9.It shall be Buyer's responsibility to inspect property as per contract BEFORE possession. Buyer agrees by accepting possession that Buyer is accepting property in its present condition as being satisfactory per terms of this agreement and of the Agreement to Buy and Sell Real Estate. Any exceptions revealed by inspections and not completed by possession date will be noted in writing and agreed to by Buyer and Seller BEFORE possession.

[

] BUYER [

] BUYER AND [

] SELLER [

] SELLER HAVE READ THIS PAGE

 

 

 

 

 

 

 

 

Form 370

 

 

 

 

 

 

 

 

PAGE 1 OF 2

PHONE:

FAX:

 

 

 

 

 

 

Produced with ZipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLogix.com

10.It will be the Buyer's responsibility to obtain insurance covering Buyer's contents and liability for personal injury to other people until date of closing. Seller shall continue to maintain a policy of fire and extended coverage on the property until the same shall be conveyed to Buyer. (Seller should consult insurance agent regarding proper insurance coverage.)

11.Buyer further agrees:

(a)To maintain heating, sewer, plumbing, electrical system, and any built-in appliances and equipment in normal working order, to keep the roof watertight, and to maintain the grounds, commencing upon the date of occupancy is delivered.

(b)To abide by all laws and governmental regulations with respect to the use or occupancy of the premises.

(c)To admit Seller or Seller's authorized agent at reasonable times for the purpose of inspecting the premises until closing.

(d)If any contingency of the above referenced Agreement to Buy and Sell Real Estate cannot be satisfied through the fault of the Buyer, any monies spent by the Buyer for improvements to the property will inure to the Seller.

12.The Buyer agrees to hold the Seller and Seller's agent harmless from any claims or actions for damages or injuries which arise as a result of Seller's acts, the acts of their agents, or anyone else entering the above property during their occupancy.

13.Should any action be instituted by the Seller to recover any rent or damages based on the provisions of this Agreement, the Buyer agrees to pay all of the Seller's legal expenses not to exceed an amount which would normally be allowed for said expenses.

14.THIS AGREEMENT IS INTENDED ONLY TO GIVE THE BUYER THE RIGHT TO POSSESSION PENDING CLOSING AND IS NOT INTENDED TO ESTABLISH A LANDLORD AND TENANT RELATIONSHIP.

15.It is specifically understood that should the premises be destroyed by fire or other occurrence during the time that Buyer is in possession, the risk of loss of personal property or bodily injury including death shall be borne by the Buyer.

16.OTHER:

IN WITNESS WHEREOF, this agreement has been duly executed by the parties.

Buyer:

 

Date

 

Time

Witness:

 

Date

 

Time

Buyer:

 

Date

 

Time

Witness:

 

Date

 

Time

Seller:

 

Date

 

Time

Witness:

 

Date

 

Time

Seller:

 

Date

 

Time

Witness:

 

Date

 

Time

The foregoing form is available for use by the entire real estate industry. The use of the form is not intended to identify the user as a REALTOR®. REALTOR® is the registered collective membership mark which may be used only by real estate licensees who are members of the NATIONAL ASSOCIATION OF REALTORS® and who subscribe to its Code of Ethics. Expressly prohibited is the duplication or reproduction of such form or the use of the name "South Carolina Association of REALTORS®" in connection with any written form without the prior written consent of the South Carolina Association of REALTORS®. The foregoing form may not be edited, revised, or changed without the prior written consent of the South Carolina Association of REALTORS®.

© 2008 South Carolina Association of REALTORS®. 1/08

Form 370

PAGE 2 OF 2

Produced with ZipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLogix.com

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Completing segment 1 of south carolina form 370

2. Your next stage is to submit the following blanks: shall be paid in advance due by, Real Estate or by, If at fault of Buyer the sale is, the rent will be, Seller under this or any other, Buyer agrees to have all utilities, Those services and utilities not, Should the sale not be consummated, of Seller until closing the, Buyer agrees to refrain from, and It shall be Buyers responsibility.

Filling out section 2 of south carolina form 370

It is possible to make errors while filling out the of Seller until closing the, so be sure you go through it again before you'll submit it.

3. Within this stage, examine BUYER BUYER AND SELLER, Form PAGE OF, Phone, Fax, and Produced with ZipForm by zipLogix. All these need to be completed with utmost attention to detail.

Filling in segment 3 of south carolina form 370

4. This next section requires some additional information. Ensure you complete all the necessary fields - Buyer is in possession the risk, OTHER, IN WITNESS WHEREOF this agreement, Buyer, Witness, Buyer, Witness, Seller, Witness, Seller, Witness, Date, Date, Date, and Date - to proceed further in your process!

Stage number 4 in submitting south carolina form 370

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