Home
Forms Library
Seller in possession addendum

Seller in possession addendum 2025

seller in possession addendum Preview on Page 1

See details

4.8 out of 5

221 votes

The document is a Seller's Short Term Possession After Closing Addendum, outlining the terms under which the seller can retain possession of a property after closing. It includes details on occupancy duration, fees, maintenance responsibilities, utility payments, insurance obligations, and conditions for seller default. The addendum emphasizes the seller's liability for damages and indemnification of the purchaser, while also stating that any changes to the property require purchaser consent.

Here's how it works

01. Edit your seller in possession addendum online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send sip form real estate via email, link, or fax. You can also download it, export it or print it out.

How to use or fill out seller in possession addendum with our platform

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Click ‘Get Form’ to open the seller in possession addendum in the editor.
Begin by filling in the names of the Purchaser and Seller at the top of the form, along with the property details including street address, city, zip code, subdivision, tax map number, and legal lot number.
In the OCCUPANCY section, specify the date range during which the Seller will retain possession of the property. Ensure accuracy to avoid any misunderstandings.
Next, enter the per diem fee that the Seller agrees to pay starting from the day after closing until the final possession date. This amount should be clearly stated for transparency.
In MAINTENANCE, outline any specific rules of occupancy that must be followed by the Seller. This ensures clarity on responsibilities regarding property upkeep.
Complete sections on UTILITIES and PROPERTY INSURANCE by detailing which utilities will remain under Seller's responsibility and confirming insurance coverage for personal property.
Finally, ensure all parties sign and date at the bottom of the form to validate this agreement. Review all entries for accuracy before submission.

Start using our platform today to easily complete your seller in possession addendum online for free!

See more seller in possession addendum versions

We've got more versions of the seller in possession addendum form. Select the right seller in possession addendum version from the list and start editing it straight away!

Versions	Form popularity	Fillable & printable
2005	4.8 Satisfied (221 Votes)

be ready to get more

Complete this form in 5 minutes or less

Get form

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 does sip mean in real estate?

Seller or buyer in possession after sale.(1) Where a person, having sold goods, continues or is in possession of the goods or of the documents of title to the goods, the delivery or transfer by that person or by a mercantile agent acting for him, of the goods or documents of title under any sale, pledge or other

What does it mean to be in possession of property?

In a real estate transaction, possession occurs when the buyer or renter takes control of a property after signing closing documents or the lease. After the sale is recorded with the local government and the purchase funds have been received by the seller, ownership of the property is also transferred to the buyer.

What does possession mean in business?

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

What does seller in possession mean?

Thats where a Seller in Possession (SIP)agreement comes in. A SIP allows the seller to remain in the property for a short, agreed-upon time after the sale has closed.

What does seller addendum mean?

Addendums are in frequent use within the real estate market. As a potential home buyer and seller negotiate an agreement, often referred to as the purchase and sale agreement, addendums provide information regarding issues and items not contained in the original draft.