How should a seller respond if their buyer does not vacate before the agreed closing date?

If a buyer does not vacate the property before the agreed closing date, the seller can charge daily fees for the additional time the buyer occupies the property beyond the agreed date. This is known as a "holdover" situation, and it is a common practice in real estate transactions. It serves to compensate the seller for any inconvenience or financial implications of having the buyer remain in the property beyond the originally stipulated timeline.

Charging daily fees can be specified in the purchase agreement or can be determined by local laws as a reasonable amount for the unexpected extension of occupancy. This approach incentivizes buyers to vacate the property promptly and protects the seller's interests in the transaction.

The other options do not provide appropriate recourse for the seller in this situation. Canceling the sale would not be practical as it could lead to legal complications. Providing a grace period is not a requirement unless explicitly agreed upon in the contract. Reducing the price does not address the issue of the buyer's occupancy and would not normally be a seller's response to this situation. Therefore, charging daily fees is the most logical and common method for the seller to handle a buyer who fails to vacate as agreed.