Buying a Central or Southwest Virginia Area home?
Perform a full home search
Perform a full home search
Selling your Central or Southwest Virginia Area home?
Get a free Home Price Evaluation
Get a free Home Price Evaluation
A lot of people ask whether a buyer can charge the seller if they choose to remain in the home after closing. Today, we answer this question for you!
The answer isn't a straight yes or no. In real estate, everything is negotiable. A lot of times, the seller has a reason they need to stay in the house until closing: the next house isn't ready, they're trying to finish up a job, the kids are still in school, etc. To solve this problem, a common solution is what's called a rent-back agreement. This means the seller can actually rent the house back for a predetermined amount of time after closing.
If you're selling and you want to
rent-back, you need to negotiate it before the contract is written! Negotiating a rent-back agreement up front will usually result in an agreement between the buyer and seller, with few problems. The amount that's charged in a rent-back situation will depend on how negotiations go, but typically, you'll be paying what the buyer's mortgage payments would be.
If you have any questions about this process, or if you need real estate assistance of any kind, give us a call or shoot us a quick email. We would love to hear from you!
The answer isn't a straight yes or no. In real estate, everything is negotiable. A lot of times, the seller has a reason they need to stay in the house until closing: the next house isn't ready, they're trying to finish up a job, the kids are still in school, etc. To solve this problem, a common solution is what's called a rent-back agreement. This means the seller can actually rent the house back for a predetermined amount of time after closing.
If you're selling and you want to
rent-back, you need to negotiate it before the contract is written! Negotiating a rent-back agreement up front will usually result in an agreement between the buyer and seller, with few problems. The amount that's charged in a rent-back situation will depend on how negotiations go, but typically, you'll be paying what the buyer's mortgage payments would be. If you have any questions about this process, or if you need real estate assistance of any kind, give us a call or shoot us a quick email. We would love to hear from you!
No comments :
Post a Comment