Ask a real estate pro: Should I let buyers rent condo for weekend before closing?
Q: I’m about to sell our condo, and the new buyers want to rent it for the weekend before closing. Have you ever heard of this? Should I say yes, or is this a reason for them to cancel the sale if they don’t like staying there? — Doug
A: While it is not uncommon for buyers to ask for early access to a property before closing, you should approach it with caution.
Sometimes, buyers want to move in a few days early or, as in your case, rent the condo for a weekend before the sale is finalized.
Although this might seem like a simple request, there are significant risks and considerations to keep in mind.
First and foremost, remember that until the closing is finalized, you are still the legal owner of the condo.
If you allow the buyers to stay in the property before the sale is complete, you are essentially becoming their landlord, even if only for a short period.
This can lead to legal issues if something goes wrong. For example, if the buyers damage the property, refuse to leave, or find something they dislike, you could end up in a challenging situation.