Seeking advice on contract terms

[jdwdwd]

What is the name of your state?Missouri
I'm considering making an offer on a home listed with an agent. The seller will give additional consideration if my offer allows him to remain in the home until he is able to move into a new home that he intends to build.
I am very flexible here and see this as an opportunity to negotiate an attractive purchase price. What are the potential pitfals of such an arrangement? What contract language should I use to safeguard my interest? Should I take immediate possession of the property and then lease it or is there a more desireable alternative? Are there sample leases that address this circumstance?
Since the agent showing the house is also representing the seller, how do I satisfy that my best interest are assured? Any suggestions, cautions, insight or creativity that anyone can provide will be greatly appreciated.
Thanks,
Buyer trying to be wary

[seniorjudge]

Originally Posted by jdwdwd

What is the name of your state?Missouri
I'm considering making an offer on a home listed with an agent. The seller will give additional consideration if my offer allows him to remain in the home until he is able to move into a new home that he intends to build.
I am very flexible here and see this as an opportunity to negotiate an attractive purchase price. What are the potential pitfals of such an arrangement? What contract language should I use to safeguard my interest? Should I take immediate possession of the property and then lease it or is there a more desireable alternative? Are there sample leases that address this circumstance?
Since the agent showing the house is also representing the seller, how do I satisfy that my best interest are assured? Any suggestions, cautions, insight or creativity that anyone can provide will be greatly appreciated.
Thanks,
Buyer trying to be wary

Put a time limit on this; rent it back to him for 30 days (or whatever y'all decide).

Make it exceptionally simple and crystal clear in the contract what the terms are so that there are no questions.

If the guy doesn't find a house, you still want him out of there after x number of days. Don't let him dilly dally.

[HomeGuru]

Originally Posted by jdwdwd

What is the name of your state?Missouri
I'm considering making an offer on a home listed with an agent. The seller will give additional consideration if my offer allows him to remain in the home until he is able to move into a new home that he intends to build.
I am very flexible here and see this as an opportunity to negotiate an attractive purchase price. What are the potential pitfals of such an arrangement? What contract language should I use to safeguard my interest? Should I take immediate possession of the property and then lease it or is there a more desireable alternative? Are there sample leases that address this circumstance?
Since the agent showing the house is also representing the seller, how do I satisfy that my best interest are assured? Any suggestions, cautions, insight or creativity that anyone can provide will be greatly appreciated.
Thanks,
Buyer trying to be wary

**A: have an attorney write your contract.