While it is not uncommon for buyers to ask for early access to a property before closing, you should approach it with caution. Although this might seem like a simple request, there are significant risks and considerations to keep in mind. First and foremost, remember that until the closing is finalized, you are still the legal owner of the home. If you allow the buyers to stay in the property before the sale is complete, you are essentially becoming their landlord, even if only for a short period. This can lead to legal issues if something goes wrong. For example, if the buyers damage the property, get injured, or find something they dislike, you could end up in a challenging situation. In some cases, early occupancy can even give buyers leverage to renegotiate the deal or back out entirely if they see something they don’t like. I realize that they’ve had an inspection, checked out the house several times, but what if they find out the neighbor doesn’t share the same political views for example and they get into a disagreement? Not funny. Was it your responsibility to tell them which way your neighbors lean? Of course not. But, if they’ve been getting shaky before the closing (buyer’s remorse, ever hear of that?) and this is enough to convince them to walk on the deal? So, my recommendation is to tell them no. While I understand that it can be difficult to say no, especially if you are getting along with your buyer, I have found that pre-closing occupancy can often lead to unnecessary problems. Speak to your insurance company, they may not cover renters, and you can politely explain this to the buyers. Or your title company, they may advise against it. Or your attorney. Most buyers will understand that early occupancy is uncommon and that you are simply following best practices. Remember the transaction is not complete until the closing date, don’t put yourself in a situation where something may negatively impact the finalization of this transaction. Please remember, I am not your agent. You have an agent, and your agent is telling you that it is fine to let them move in early. Take all into consideration and ultimately, this will be your decision to make.
