What is a leaseback?
A leaseback is an arrangement in which the seller agrees to rent their home from the buyer for a specific period of time following the sale’s completion. For sellers who require additional time to search for a new home or relocate from their current residence, this can be a favorable choice.
What are the benefits of a leaseback?
By opting for a leaseback, you can extend your stay in your current home for a predetermined period, which provides you with great flexibility and more time to locate your next residence. Additionally, negotiating a lower rental payment than your pre-sale mortgage may result in reduced expenses, freeing up extra funds that can be useful in covering moving expenses.
You can maximize your flexibility with a leaseback! Here is how:
- If you’re selling your home but need more time to find your next one, a leaseback could be the perfect solution!
- By renting your home back from the buyer for a set period after the sale closes, you’ll have the flexibility to stay in your home while you search for your new residence.
- Plus, negotiating a lower rental payment can help you save money and cover expenses associated with moving. Don’t let a tight timeline stress you out – consider a leaseback and take control of your next move!
Does it make sense for you?
If you’re selling soon, a leaseback may be worth considering. However, it’s important to weigh the pros and cons to determine whether it’s the right choice for your specific situation. Connect with our team to learn more about leasebacks!
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