Real Estate Tip of the Week
A seller doesn’t always have to move out the day the home closes.
By David Diaz, REALTOR®
In some situations, the buyer and seller can agree to a temporary leaseback, which allows the seller to stay in the home for a short period after closing. This can be helpful when the seller is waiting on their next home to close, needs a little extra time to move, or wants to avoid having to move twice.
The details need to be clearly agreed on ahead of time, including how long the seller can stay, whether rent will be charged, and who is responsible for things during that period.
It can be a simple way to make the timing of a move work better for everyone.
General information only, not legal, tax or lending advice. Talk with a lender, CPA or attorney about your situation.