PRE-SEttlEMEnt PoSSESSIon aDDEnDUM to agREEMEnt of SalE
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This form recommended and approved for, but not restricted to use by, the members of the Pennsylvania Association of REALTORS® (PAR).
1 PRoPERty __________________________________________________________________________________________________
2 SEllER _____________________________________________________________________________________________________
3 BUyER______________________________________________________________________________________________________
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PoSSESSIon DatE
. In the event settlement does not take
Buyer will have access to the Property, as agreed to above, from
place, Buyer’s right of Possession ends and Buyer will remove all personal property and will vacate the Property no later than 5:00 PM
on the second day after the Settlement Date in the Agreement of Sale or any extension thereof.
oCCUPanCy fEE
Buyer will pay Seller a Pre-Settlement Possession Fee of $_____________ for each day from Possession until settlement. Buyer agrees
to pay Seller the entire Fee on or before Possession. If Seller has collected any Pre-Settlement Possession Fee for days falling after settlement, Seller will reimburse those fees to Buyer at settlement. If settlement is extended, Buyer will pay Seller an additional PreSettlement Possession Fee for each day of Possession paid at settlement. If settlement does not take place, Buyer will pay Seller an
additional fee equal to the Pre-Settlement Possession Fee for each day after the Settlement Date that Buyer occupies the Property.
DEPoSItS
In addition to the Pre-Settlement Possession Fee, Buyer will pay an Additional Deposit credited to Purchase Price in the amount of
$_____________. If settlement does not take place, the return or release of deposit monies will be controlled by the terms of the
Agreement of Sale.
PRoPERty InSPECtIon
Before Possession, Buyer will make the pre-settlement inspection specified in the Agreement of Sale, unless checked below.
Buyer will not make the pre-settlement inspection before Possession.
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PURPoSE
this form is not a lease agreement. It is an Addendum to the Agreement of Sale between Seller and Buyer which modifies the date
when Buyer is given access to and/or possession of the Property (“Possession”). Seller and Buyer acknowledge that this Addendum
does not create a landlord-tenant relationship. this form is not recommended to be used for periods that exceed 14 days. Seller
gives Buyer Possession of the Property before the date of settlement under the following terms and conditions and for the limited purposes checked below:
Move in personal property (for example, furnishings) and physically occupy the Property.
Store personal property without physically occupying the Property.
Store personal property in the following areas, without physically occupying the Property: _____________________________
Make repairs and/or improvements to the Property, in a workmanlike manner, as follows: ______________________________
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UtIlItIES
Beginning on Possession, Buyer will pay operating and utility charges connected with the use of the Property as follows:
Electricity
Gas
Sewage
Snow removal
Water
Garbage and trash collection
Lawn and shrubbery care
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PEtS
Pets allowed on the Property before settlement only as follows:
MaIntEnanCE
Buyer agrees to maintain the Property in its present condition, normal wear and tear excepted, and to abide by Seller’s rules of occupancy, if any, as attached to this Addendum.
Buyer Initials
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Seller Initials
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CoPyRIght PEnnSylvanIa aSSoCIatIon of REaltoRS® 2015
3/15
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EntRy
Buyer shall receive a set of keys or combinations for entry into the Property as needed for the purpose(s) specified in Paragraph 1 herein. Seller or Listing Broker may enter the Property at any time in the event of an emergency, otherwise on a weekly basis, with 24 hours’
prior notice to Buyer.
BUyER’S DEfaUlt
The time for the performance of any of the obligations of this Addendum are hereby agreed to be of the essence. Should Buyer violate
or fail to perform under the terms of this Addendum or of the Agreement of Sale:
(A) Buyer will immediately vacate the Property, removing all of Buyer’s personal property, and Seller will be entitled to immediate
Possession. Buyer agrees Buyer is NOT a tenant and that Seller may institute proceedings to recover possession without first giving Buyer notice.
(B) Seller has the option of retaining all deposit monies paid on account of purchase price as provided in the Agreement of Sale and
any other monies as required by this Addendum.
(C) If Seller institutes legal proceedings to recover sums due and owing under the terms of this Addendum or to have Buyer removed
from the Property, Buyer will pay to Seller all costs that Seller incurs as a result, including court costs and attorneys’ fees.
aSSIgnMEnt
Buyer may not assign Buyer’s rights under this Addendum or lease the Property to any person(s) or entity.
InDEMnIfICatIon Buyer will indemnify and hold harmless SEllER, all BRoKERS, their lICEnSEES, EMPloyEES, and any offICER or
PaRtnER of any one of them, and any other PERSon, fIRM, or CoRPoRatIon who may be liable by or through them,
from all claims, lawsuits, and actions that arise from, or occur during Buyer’s occupancy or use of the Property. Buyer will
defend Seller from all such suits and claims, and pay Seller’s costs, including attorneys’ fees and damages awarded.
SURvIval
This Addendum and related terms in the Agreement of Sale will survive settlement.
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PRoPERty InSURanCE
Buyer and Seller are advised to contact their insurer prior to signing this Addendum.
(A) Buyer understands that Seller’s insurance does not cover Buyer, Buyer’s personal property, or Buyer’s guests. Buyer is advised to
obtain contents and liability insurance to protect Buyer, Buyer’s personal property and Buyer’s guests who may be injured while
on the Property.
(B) Buyer must have insurance policies providing at least $________________ in contents insurance and $ ____________________
in liability insurance to protect Buyer, Buyer’s personal property and Buyer’s guests who may be injured while on the Property.
Buyer must maintain this insurance during Buyer’s Possession of the Property. Buyer will provide proof of insurance upon request.
(C) Seller is not legally responsible for any injury or damage to Buyer or Buyer’s guests that occurs on the Property.
(D) Buyer is responsible for any loss to Seller caused by Buyer, Buyer’s family or Buyer’s guests, including attorney’s fees.
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ChangES to thE PRoPERty
Buyer will not make any alterations or improvements to the Property unless agreed to in writing by Seller.
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other terms and conditions of the agreement of Sale remain unchanged and in full effect.
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