Post Settlement Possession Agreement Template
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1Post Settlement Possession Agreement
The parties agree that they have entered into an agreement for the purchase of real property on ____________________
for property commonly known as ________________________________________________________________________.
At settlement of said property, the Seller desires to retain possession and the Buyer agrees to allow Seller’s possession
beyond the settlement.
Therefore, parties agree to the following terms for post settlement possession.
The Seller and Buyer agree that the Purchase Agreement provides that the seller shall have possession of the property for
up to ____________________ days after the day of closing. For each day Seller is entitled to possession after closing, Seller
shall pay to Buyer at closing $_______________________ per day.
The Seller shall deliver possession of the property to the Buyer by ________________ a.m/p.m. of the last day of agreed
upon possession.
If Seller does not deliver possession in accordance with this agreement, Seller shall pay Buyer $_________________ per day
as liquidated damages until possession is delivered to Buyer; and Buyer shall have any and all legal and equitable remedies
available against the Seller.
Notwithstanding terms to the contrary in the Purchase Agreement the Seller shall maintain the property in its present
condition until its possession is delivered to Buyer, subject to repairs in response to any inspection. Seller shall remove all
debris and personal property not included in the sale. The parties agree the Seller shall be responsible for any damage done
to the property as a consequence of the Seller moving out of the property. The Seller shall not be responsible to repair or
replace any property, real or personal, that fails during the Seller’s post closing occupance in which said failure results from
normal use and wear and tear by the Seller. Should any damages occur due to the fault of the Seller, the Seller shall be
responsible to repair or replace the damaged property.
Signed and agreed to this ___________ day of _________________________, 20____.
__________________________________
_______________________________________
BUYER
SELLER
__________________________________
_______________________________________
BUYER
SELLER
To be completed at settlement:
Settlement Date: __________________
The parties agree that the Seller shall have the right to occupy the property, at no charge, until midnight
_____________________________. The first day of post closing possession is ___________________________________.
In accordance with this above agreement, the seller shall deliver possession of the property on
______________________________ at _________ P.M./A.M.
Signed and agreed to this ___________ day of _____________________, 20____.
__________________________________
_______________________________________
BUYER
SELLER
__________________________________
_______________________________________
BUYER
SELLER
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