Dear Home Buyer,
Additional risk would take a little clarification from you. But many buyers with whom I work are seeing occupancy as an advantage because there is someone in there taking care of the place.
Through out the short sale process, my sellers have always allowed the buyers access into the listings I represent, and have expressed that at the beginning to help them feel their future real estate value is not harmed. Itâ€™s a very stressful time for everyone â€“ so this is done with all politeness.
And, this level of access of course is verbal and non binding. What is binding is the contract you sign. You generally have one (1) inspection date. The price, terms and conditions -- of course vary with every deal. And a sales contract can look complex, but it consists of standard clauses that are individually easy to understand.
In the Florida As-Is contract our section "6. Occupancy and Possession: Unless otherwise stated herein, Seller shall at Closing, have removed all personal items and trash from the Property and shall deliver occupancy and possession, along with all keys, garage door openers, access devices and codes, as applicable to Buyer. If Property is intended to be rented or occupied beyond Closing, the fact and terms thereof and the tenants(s) or occupants shall be disclosed pursuant to STANDRARD D. If occupancy is to be delivered before Closing, Buyer assumes all risks of loss to Property from date of occupancy, shall be responsible and liable for maintenance from that date, and shall be deemed to have accepted Property in its existing condition as of time of taking occupancy."
So, on the day of closing (or escrow), if when you are doing your walkthrough and last inspection of the property -- before you sign your docs of course -- and if the property is not to the level you believed it to be when you authorized the contract -- then alert your real estate attorney and discuss the liabilities before doing anything.