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Malcolm Carter
Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022

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PSO is an acronym some buyers better learn

Post-settlement occupancy can result in an unwelcome tug-o'-war between seller and buyer. (Flickr photo by tj.blackwell)

The technical term is post-settlement occupancy, or PSO.

In all those syllables is a basic situation: Sellers remain in the property after the buyers complete the purchase. Ownership has changed, but occupancy has not. Yet. (It is the opposite of another kind of PSO–pre-settlement occupancy, about which I wrote a couple of weeks ago.)

You easily can imagine some of the reasons that sellers might make the request, e.g.: Continue reading