The Seller shall have the right, at the Seller’s sole option, to extend the completion date of this transaction by up to Ten (10) business days upon notice in writing to the Buyer or the Buyer’s representative delivered prior to the original completion date. In such event, all time periods herein, including without limitation the Buyer’s title search requisition date, shall be extended accordingly.
In the event the Seller exercises the right to extend the completion date as provided herein, the Buyer shall have the right to occupy the property commencing on the original completion date prior to such extension (the “Occupancy Date”) pending completion of the transaction.
The parties acknowledge and agree that such occupancy shall be on a lease-to-own basis only and shall not create or imply any waiver, novation, or replacement of the Agreement of Purchase and Sale or the Buyer’s legal duty and obligation to complete the purchase in accordance with the terms of this Agreement.
The Buyer shall be permitted to occupy the property rent-free from the Occupancy Date until the extended completion date, provided the transaction completes in accordance with the terms of this Agreement.
During the occupancy period, the Buyer, as tenant, shall be responsible for and shall pay all utilities, rental items and agreements, tenant insurance including liability and contents insurance, together with all maintenance, upkeep, and day-to-day costs associated with the property. The Seller, as landlord, shall only be responsible for maintaining the Seller’s existing property insurance policy. Property taxes shall be adjusted on the Statement of Adjustments such that the Buyer shall be responsible for the cost thereof from the Occupancy Date onward.
The parties further acknowledge and agree that all representations, warranties, covenants, and obligations of the Seller respecting the condition, state of repair, chattels, fixtures, appliances, systems, and the property generally shall be deemed fully satisfied, fulfilled, and completed as of the Occupancy Date. For greater certainty, upon the Buyer taking occupancy of the property, the property shall thereafter be accepted by the Buyer in its then current “as-is, where-is” condition from the Occupancy Date forward, without any continuing representations or warranties surviving beyond such date, except for any title-related warranties that by their nature survive closing.
In the event the Buyer fails, refuses, or is otherwise unable to complete the transaction in accordance with the terms of this Agreement after having exercised the right of occupancy herein, the Buyer shall thereafter be deemed a tenant responsible for all costs and obligations of occupancy as set out herein, including without limitation utilities, rental items, insurance, maintenance, and all other tenant obligations, and shall further pay rent to the Seller in the amount of Three Thousand Dollars ($3,000.00) per month, payable on the first day of each month, with the first month to be prorated should occupancy commence on a day other than the first day of the month.
The parties acknowledge and agree that the payment of rent and occupancy charges shall not release, waive, limit, or otherwise affect the Buyer’s legal duty and obligation to complete the purchase of the property in accordance with the terms of this Agreement, nor shall same limit any rights or remedies available to the Seller arising from the Buyer’s default, including without limitation the Seller’s right to pursue damages, compensation, specific performance, loss of value, carrying costs, or any other remedy available at law or in equity. The Buyer further acknowledges that failure to complete the transaction after taking occupancy may result in substantial damages and losses to the Seller.
Agreement · Source: Notion: Purchase Clauses
The Seller reserves the right to extend or shorten the closing date by 30 calendar days. Notice will be sent to the Buyers agent and must be given at least 30 days in advance from the requested closing date change.
Agreement · Source: Drive: Andrew - Standard Clause Sheet
The Buyer shall have the right to move up the closing date by as much as 30 calendar days. Seller agrees to this and this notice will be given by the Buyer in writing to the Seller no later than end of day ____________.
Agreement · Source: Drive: Copy of Standard Clause Sheet · Added 2026-11-03
Notwithstanding the completion date set out in this Offer, the Buyer agrees to amend the completion date to a date of the Seller’s choice and adjust the title search date to 7 days prior to the amended completion date. The Seller agrees to notify the Buyer, if they so choose to change the completion date, within 3 business days of acceptance of this offer.