Post occupancy agreement for buyer

[Rene Bee]

Hi Everyone, I have a question. I am supposed to close on a 2 family apartment next week and just learned the owner wants a use and occupancy agreement up to 6 months. I originally agreed to 3 days and that is the in contract. What are your thoughts on a 6 month use and occupancy agreement vs a 6 month lease? How should I decide what to do? On the one hand its immediate income but if the seller moves out after 3 months then I could be looking for a renter in December/January which is hard. Would love your thoughts! Thanks

[Cameron Tope]

@Rene Bee

This is not uncommon in Texas. There's a TREC seller's temporary lease form used for this exact purpose. 

I agree with @Dante Feria, get it all paid upfront from the proceed (this is how I've typically done it). 

Best of luck!