Post Occupancy Agreement
A post occupancy agreement is used infrequently in Florida but it does come up from time to time. Note that a residential lease DOES survive a sale so this is only applicable when the property is not encumbered by a residential lease but rather it is the Owner who wants to remain in possession AFTER the sale. Most of the time the Buyer wants the Seller out of the Property at Closing. While this certainly makes it easier for all those involved there are occasions where it is beneficial to the Seller, and perhaps even the Buyer, for the Seller to occupy the Property after the sale is closed. The standard FAR and FAR BAR amendment to the base Contract basically lays out: Who is going to pay for the lawyer to draft the post occupancy agreement. And, when one must be approved by both parties. It’s an agreement to enter into an agreement within a certain time line…
HOWEVER, If you are a Realtor and a cooperating member of the South Broward Board of Realtors then this document will be in your Form Simplicity program and, although a pretty basic Post Occupancy, I am told that IF it is then it MAY be used…
A few things to keep in mind in a post occupancy are:
- The Buyer is (assuming it is an As-Is Contract) accepting the Property in the As-Is condition at Closing. How can it be inspected (walk through) if the Seller has not vacated the Property?
- The Seller (now the occupant) must agree to maintain the property in the condition it was received in at Closing, but what exactly is that?
- Does the association allow leases? If they only allow say one a year does this count as that single lease? What about if they do not allow leases at all in say the first year or even two, will they allow this?
- Does the Lender for the Buyer allow the Buyer to NOT occupy the Property right after Closing? If the Buyer is getting a loan based upon the Property being their primary residence then the loan/mortgage covenants will require that they occupy the property as such within (and this may vary) 60 days of Closing. Even if not their primary residence then will throw a flag as an investment property instead of a second home?
- Who will insure the Property? The Seller can no longer do this as one can NOT insure what one does not own. They can get renters insurance but the property must be insured by the new owner (Buyer).
- Should the Seller (now the occupant) pay rent? how about a security deposit for any damage? If so, who holds onto that money?
After Entry
For over twenty years now R& R Realty has been helping customers buy and sell Palm Beach homes. Northern Palm Beach County is a spectacular place to live and we know every inch of it. Generally considered the end of the sub tropical zone, the Gulf Steam waters temper our climate for warm winters making for an amazing life style filled with boats, beaches, shoping, golf & convenience just 15 minutes from the Palm Beach Airport. Feel free to browse our website for more information on Palm Beach homes for sale and real estate listings including great local neighborhood maps of Juno Beach, Jupiter, Palm Beach Gardens, Singer Island and Jupiter Island. You may choose to search for Palm Beach Homes for sale on your own at first or contact us and we will help tailor a search to your specific needs. We look forward to hearing from you! If you have any questions about property for sale in Palm Beach, please call me, Chris Ryder, the owner, directly on my cell phone at (561) 818-3858.
About Chris Ryder
I am the Broker/owner of R&R Realty In Juno Beach Florida.
EXCELLENT rating
Based on 33 reviews
Nicole Ryder is amazing. Her expertise and knowledge in real estate shines through in many ways. Nicole knows the market, is extremely responsive, knows exactly what listings to present, and an exceptional communicator! Nicole has done an outstanding job at answering all my questions (and I’ve had a lot), keeping us informed of market changes and proactive in bringing us new ideas and listings. Highly recommend, Nicole Ryder. Can’t ask for a better experience. 10/10 ⭐️⭐️⭐️⭐️⭐️⭐️⭐️⭐️⭐️⭐️
Cathy Ingraham
2023-10-09
I highly recommend R & R Realty. Chris worked with me to over a period of years to find what I wanted. He always responded quickly to my phone calls or texts. Chris always pointed out all the positives of a property but also possible negatives or things I hadn't thought of. It was a pleasure working with him.
Chris and Nicole Ryder are true professionals! They both helped my husband and I find our apartment when we were new to South Florida and were an excellent source of information about the Palm Beach Gardens/Juno Beach/Jupiter area. When we decided to buy a property two years later, we came back to R&R Realty without hesitation. Chris patiently worked with us for many months as we slowly but surely developed a sense of what we wanted. He went above and beyond, giving us not only real estate advice but also engineering tips and personal recommendations. We ultimately found a house we love thanks to Chris's diligence and tireless efforts on our behalf. I can't recommend R&R Realty highly enough!
Chris Ryder was a fantastic realtor! Thorough start to finish! Helped us buy our first property here 8 years ago sold it for us and helped us buy a second. Will most definitely be calling him again in the future.
Nicole Ryder (and Chris) provided excellent service throughout entire process of listing and selling condo in Juno Beach. Nicole was very helpful and always acted in our best interest re listing details, setting viewing appointments, responding to offers and assisting with closing requirements. We most appreciated their local knowledge and support re Florida real estate transaction requirements being non Florida residents. (Canada) We would highly recommend R&R Realty!
Chris is the very best realtor I have ever worked with anywhere in the country, by a long shot! Being from out of state, he spent countless hours previewing property, had a clear understanding what I was looking for, has the knowledge of an engineer/architect in evaluating structures plus is very familiar with the area. He is very patient, and never "sells" A true rare professional.
I have used R&R Realty, The house Cris found for us is amazing. Cris definitely knows his business. No fooling around and gets the job done. I would definitely use Cris for further purchase. Thanks,Hugh
If you're looking for an exceptional, results oriented, knowledgeable, one of a kind real estate agent that delivers on all accounts then Chris Ryder of R & R Realty in Juno Beach, Florida is your go to resource for all things real estate on the Treasure Coast. From a structural engineering background and to an understanding of Florida real estate law to a hands on knowledge of market trends and property values Chris has the answer. Whether your interest is in selling or buying a condo, town house, private home, penthouse or anything in between, Chris can get the job done. In our case he worked his magic in securing the purchase of our condo in Juno Beach which was a difficult, complex transaction involving a short sale along with the added complication of an estate sale. His unique combination of abilities and skills coupled with his experience resulted in a successful transaction which benefited all parties. You won't be disappointed.
Ronald Johanson
2016-07-08
It has been a pleasure to work with Chris to identify investment properties in Palm Beach County.
Charles Braznell
2016-07-07
Chris Ryder has helped us tremendously with our search for a vacation home. Highly recommend R&R Realty.
Vincent Lauletta
2016-06-30
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