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    How to Avoid Going Homeless When Selling Your Home with a Rent Back

    I want to talk to you today about is how do you go about selling your house and avoid being homeless and having to move out with nowhere to go. Or how do you avoid having to move two times before you get to be in that final destination?

     

     

    So there’s a little thing called a rent-back that can come into play when you’re selling your home. And what that is, is it allows a little time after you close escrow on your sale, it allows you to stay in that home and rent it back from the person who bought it so that you have a little bit of time to make the move into your final destination. A lot of times our clients are selling their current home, moving up into that bigger home. In order to do so, they’ve got to have their home sold first. They need the cash from that sale to put down on the new purchase and we need to have a little bit of time in between those two transactions.

    So that’s a scenario where we can put a rent back in place and negotiate that as a part of your sale and that will allow you to stay in your home typically anywhere from a day up to 60 days in your home after you’ve sold it.

    You actually become a tenant which is a little bit weird for a short period of time but then you just rent the home back from the person who bought it from you.

    It’s only fair you cover their mortgage payment while you’re living in the house. They own it so it’s only fair that you cover that. But now you can stay in there for a week or two weeks so that you can then close and then take that money, buy your new home, make a couple of improvements to that home, and then move into it. Clean your home up. Turn the keys over. You avoid that double move. You avoid going homeless.

    So if you’re thinking about moving but you’ve been wondering, “How do I deal with this? How do I sell? How do I avoid not having to go stay with my mother-in-law for a couple of weeks?” That’s how you do it. You do it with a rent back. So if you want to learn more about that, love the opportunity to explain it more in-depth. Love the opportunity to help you with the sale of your home and move into that dream home of yours. Give me a call. Kyle Whissel 858-699-3895.

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