when seller asks to stay past closing, how is best handled?

[Matt Berklacy]

in this transaction, my assignment of contract and original purchase/sale contract is already signed off by end-buyer, deposit is made by end-buyer, and closing set.

Seller asked, after the fact, if can stay 14 days free after closing. i asked end buyer, he verbally said ok, and he also offered monthly lease-back at fair rate to seller. Seller asked for addendum to contract stating that extention, and asked if i (assignor) and end-buyer sign.

Q. is a better solution, that buyer and seller sign a lease agreement stating 2 weeks free to stay after closing? And a month-to-month agreement set up to default after that?
(Q if separate agreement or addendum to original is used, is assignor (me) even involved or needed to sign anything at this point, as end-buyer already has assigned contract agreement of seller.)

any experienced, or settlement company, please chime in, in this supposed common scenario, thanks

[Charlie MacPherson]

@Matt Berklacy  I've seen these arrangements go VERY wrong when the seller refuses to leave on schedule.

The buyer should execute a use and occupancy agreement, allowing the seller to stay for a specified number of days, at a fixed price per day for that period of time.  It should specify that if the property is not vacant and broom clean by 7:00 AM on the next day, the per diem rate skyrockets to something like 10X.  Make it hurt to stay beyond the agreed number of days.

Further, the buyer should hold back enough funds at closing to cover the per diem and to cover a hostile, contested eviction and a cleanout.  Around here, I suggest $10K, but MA is a very tenant-friendly state.

As a buyer's agent, I would strongly resist this.