SELLERS, ARE YOU SELLING YOUR HOME AND NEED SOME EXTRA TIME TO MOVE?

Selling a home can be an exciting yet stressful process especially if you need more time to move out. 

However, with the option of a rent-back agreement, sellers can experience a smoother transition that allows for more time. So, what is a rent-back agreement? A rent-back agreement is a negotiation between buyers and sellers often done at the time of the offer. This agreement is a legally binding short-term lease that allows a seller to remain in their home after closing for a specified period of time. This is often done if the seller needs more time to move into their next property or to relocate to a new job. Both parties need to decide on the lease period, rate, and security deposit. 

Once everyone agrees and the transaction closes, the buyer will officially take possession of the property and the seller technically becomes the tenant. 

In a seller’s market, rent-back agreements are often included in an offer to make the offer more appealing to the seller and often free of charge. 

It is always best to have an experienced agent with good negotiating skills who can get the best possible terms on a rent back. If you are a homeowner looking to sell, feel free to reach out to my team and I so we can help get you the best possible terms on your property.