Purchase Contract Addendum

Purchase Contract Addendum

Due to the Seller's request to remain in the property after the closing date, a sum of $_____________ will be held in escrow at the time of closing by closing agent or such other agent as buyer appoints, until such time as Seller vacates the property leaving it in a neat and clean condition as defined below.

Seller agrees to vacate the property within_________ days following closing. In the event Seller does not vacate the property by the above date a charge of $________________ per day will be assessed and deducted from the escrowed amount.

In the event Seller has not vacated the property within _______days following the agreed upon date, all monies remaining in escrow will be forfeited. Seller will then be considered a Tenant in Sufferance giving Buyer full rights to evict.

"Neat and clean" is defined as: all debris to be removed from the interior and have clean up completed a Sellerís expense and deduct from the escrowed amount.

In the event property is not left in a Neat and Clean condition, Buyer will have clean up completed at Sellerís expense and deducted from the escrowed amount.

In the event the Buyer is forced to institute legal action to enforce this agreement the Seller will be held responsible for and hereby agrees to pay all legal fees and costs of said action.

 

Date: ______________________________

Seller: _____________________________



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