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Early possession agreement form

Early Possession Agreement 2025

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The document is an Early Possession Agreement between a Seller and a Purchaser, allowing the Purchaser to take possession of a specified property before the official closing date. It outlines terms such as possession date, rental fees, risk of loss, inspection rights, and conditions for vacating the property if the sale does not close. The agreement also emphasizes that all other terms from the original sale agreement remain in effect.

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Click ‘Get Form’ to open the Early Possession Agreement in the editor.
Begin by entering the date of the agreement in the designated field at the top of the form.
Fill in the names and addresses of both the Seller and Purchaser in their respective sections, ensuring accuracy for legal purposes.
Specify the possession date in the appropriate field, which is crucial for establishing when Purchaser can take possession of the property.
Indicate the rental per diem amount for using the property from possession until closing, ensuring it reflects your agreement.
Detail any pro-rations related to contracts as required, providing clear descriptions in the provided space.
Review and complete sections regarding risk of loss, walk-through inspections, and conditions for vacating if closing fails.
Finally, ensure both parties sign and date at the bottom of the form to validate this agreement legally.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is possession in a contract?

Legally, the term possession refers to when a person has occupancy, control, or ownership of an object, property, or asset. Possession of property can be established through contracts, statutes, or other legal means. It can also be transferred from one person or entity to another, either by agreement or court order.

What happens if a buyer decides not to close?

In many cases, missing the closing date means breaking (bdocHubing) the contract. If you bdocHub contract, that can give the seller the right to walk away from the sale entirely. This doesnt always happen, but if youve gone silent or delayed the process more than once, the seller might decide to cancel.

What happens if a buyer doesnt close?

In California, when a buyer doesnt honor timelines set out in the sale contract including the closing date the seller can issue a Notice to Perform to the buyer within 48 hours before the deadline. A Notice to Perform gives the buyer 48 hours to take care of listed issues before the contract will be canceled.

What does it mean to be in possession of property?

Possession means the ownership, control, or occupancy of any object, asset, or property, by a person.

What happens if you decide not to close on a house?

If you fail to close, you would be in bdocHub. The seller at that time, can exercise their right and options that should be stated in the contract. It likely will allow them to impose a claim of your deposit and keep it, sue for damages and costs incurred or try and force the sale of the home, if that is possible.