Rent Back

What is a rent back?

 Basically, you’re selling your home and you’re probably buying another property but maybe the closings are being delayed or you just need a little bit of time in between closings to get the other home ready.

You can ask the buyer of your current home, if you can rent back your house, for whatever amount, for however long after closing.

So, they will be the new homeowner, you’ll be paying them a monthly rental fee and then you don’t have to move twice after that closing. It can really minimize the headaches for you, if the buyer is willing to cooperate. So, I always like to set the expectation that A) This home is contingent on them in finding another place but B) we might need a rent back. I don’t know f it is necessary but just to know that it might be requested.

So, these are things to think about. It helps ease the transition and you don’t have to move several times.