Try and buy is a concept in real estate that may help sellers to market their homes to potential new buyers who can spend an extended length of time (varies between a few hours to a few days) in a home prior to making an offer.
This concepts allows potential new buyers to help determine what homeownership in that specific home could be like prior to making a commitment to the home. By having an extended visit to the home, buyers may determine certain qualities they like or dislike about the home, including the neighborhood, actual physical condition of the house, and other unique traits about the house that may not have been noticeable on a shorter traditional walkthrough.
In Florida, Del Webb Naples is offering this program to potential new buyers to determine which floor plan they may like to buy and determine if the community amenities are right for them. Through this program, potential new buyers can stay in a home for two to three nights.
Sellers may like this idea of “try and buy” because the buyer may be more serious about placing an offer on a house that they have come to love even more. Additionally, this concept can help sellers to market their home to a market of serious potential buyers. Sellers can protect themselves from buyers spending this time in their homes by creating written agreements, asking for security deposits or even utilizing security measures, such as security cameras.
from http://www.bankrate.com/financing/mortgages/try-before-you-buy-a-home/ and http://www.news-press.com/story/money/industries/realestate/2015/02/28/real-estate-briefs-try-buy-homes-offered/24154851/
The Law Office of Beth Mann, P.C. 