Attorney Arielle Cecala joins me to discuss use and occupancy agreements.
Today we’re discussing use and occupancy agreements, also sometimes known as rent-backs or leasebacks. Those agreements mean that the buyer is giving the seller more time to live in the home after closing. Buyers can use them to make their offer stand out to sellers who need more time to move or find their next house. Attorney extraordinaire Arielle Cecala from Crowley and Cummings, LLC is joining me today to talk about use and occupancy agreements because they’re a hot topic right now.
Feel free to watch the full message above, or use these timestamps that will direct you to various points in the video:
0:00 — Introduction to today’s topic
0:40 — Introducing attorney Arielle Cecala
1:50 — How a use and occupancy agreement works
3:25 — Though there are benefits, there are also pitfalls of having a use and occupancy agreement in place as a seller
5:30 — Though there are benefits, there are also pitfalls of having a use and occupancy agreement in place as a buyer
7:05 — The use and occupancy agreement is just a piece of paper, so buyers and sellers can get into disagreements
8:25 — When considering a use and occupancy agreement, it’s best to get a real estate attorney involved early
9:55 — Wrapping up today’s topic
If you have more questions regarding use and occupancy agreements or anything else, you can reach out to Arielle directly at (781) 251-0540 or acecala@crowleycummings.com. If you have any other real estate questions or needs, feel free to contact the Lioce Properties Group via phone or email. We would love to help you.
