Legal Question in Real Estate Law in New Hampshire
In negotiations of a P&S, Seller is requesting to leave her personal property at the seasonal camp she is selling until Spring. Closing is tentative for Dec. 15th. She is afraid there might be 3 feet of snow on the ground. Road is not maintained off-season. Is this a reasonable request? The real property is in NH. She lives in NYC. If Buyers are not going to do anything at the camp until Spring, is it likely they would agree to something like this? Liability issues, etc.??
1 Answer from Attorneys
I have seen this situation many times. The key is to have the Seller provide proof of insurance satisfactory to the buyer. I often include a sum of money be held back from the Seller to secure performance of the removal of the personal property by an agreed date or the money is forfeited and the personal property may be removed fromthe premises without any claim by Seller against the buyer. These types of provisions often require the assistance of an attorney to help draft appropriate language.