While many of the closings you work on as a Realtor involve owner-occupied properties (and you know exactly what to do), do you know how to approach one that is tenant-occupied? In situations where a property is tenant-occupied and the tenant will remain in the property after closing, the contract must be handled a certain way to ensure that your client, whether it’s the buyer or seller, is protected throughout the transaction (and after closing). This article will touch on some of the more important aspects from contract to close when a tenant will remain in the property after closing. 

Earlier this year, I had the privilege of presenting at Savannah Area REALTORS® on Common Contract Pitfalls to Avoid. Several Realtors asked me if I had any written materials regarding this presentation – which I didn’t – until now. This will be a three part series highlighting some of the topics discussed at that presentation. The following are issues that I have seen over the years that have caused problems (that could have been avoided).