What is a Rent Back?
At this time, many would-be Sellers are being held back from moving on to their next chapter of life from the fear that they may not be able to find a replacement home.
One option that Sellers have is to negotiate a rent back on their property. Watch this video to find out what a rent back is, and how it may just be the strategy for you to get your home sold.
If after watching, you decide that this strategy is right for you, get in touch with us for a free consultation to see what your options are in today’s market!
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Homes are selling fast, often in just a week or two. So many sellers are worried that they won’t be able to find a replacement home. Which makes sense, right? This is totally a valid concern given the market conditions throughout Seattle and the Greater Puget Sound area.
Hi everyone, I’m Sandra Brenner with Steve Hill of the Brenner Hill Team at Windermere. And Steve and I have put together a few videos going over solution to this very common concern. You can click the link below to watch them all now if you like.
So one solution is to negotiate a rent back on your property. You see, in a competitive market like we have now, sellers are much less likely to accept a contingent offer because there is a risk that the home that the buyer is selling could fall out of escrow. And this would cause the seller to have to find another buyer for their home. The seller would lose money and waste a ton of time. So, it’s easier for them to accept a non-contingent offer. However, a solution for sellers who want to sell right now but are afraid that they won’t be able to find a replacement home, is to sell their home and do a rent back.
And so, you may be wondering what is a rent back. Well, a rent back is when, after you sell your home, you remain in the property as short term tenant. This way you have the funds to purchase your new home without being contingent, and your offer is much more likely to get accepted. This will take away a ton of stress and worry for you.
Now there are terms to navigate and negotiations that need to be considered to keep you safe, but after selling a zillion homes and helping so many sellers over the past 17 years, we’ve seen it all. We know exactly what to negotiate and what needs to be considered on your behalf to keep you safe. So, no need to worry. And this is just one solution. There are many more options we have, to help you sell your home, and get you the home of your dreams, even with limited inventory, so give us a call. And don’t worry, there’s never any pressure or obligation in meeting with us. Steve and I are here to help you navigate the best strategy when selling your home.
We look forward to hearing from you.
We are Steve and Sandra, elevated service, elevated results.