Carla Freund, Carolina Life RealEstate & Relocation 919-602-8489 (Keller Williams Preferred Realty)

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Rainmaker
867,349
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Lease-backs are very common these days as many sellers have not secured their next home as they are selling t\heir current home. Sellers becoming buyers and facing the difficult market for buyers need to live somewhere after their sale closes. Aggressive buyers are offering to let the sellers lease-back at no charge in order to make their offer more attractive.

May 08, 2021 03:56 PM
Rainer
126,943
Jerrill Ewing
N & J Lake Properties, LLC - Eatonton, GA
Builder

Building houses as fast as I can

May 08, 2021 02:38 PM
Ambassador
3,000,465
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Most of my listings are vacant. 

However, when I do have a seller that also needs to buy, we require a 60-day rent back. In the hot seller market, this is not something buyers object to. 

May 08, 2021 12:47 PM
Rainmaker
1,361,233
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Not a fan of leasebacks.  Over the years we've had many a buyer who would decline to see a house because of them.  Unless your potential buyer is living with mom and dad still or otherwise doesn't have to sell a place, it isn't a viable option.

May 08, 2021 12:44 PM
Rainmaker
3,832,275
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I agree with your suggestion on how to handle this.  Had to do 3 like this in last 6 months.

 

May 08, 2021 11:32 AM
Rainmaker
2,609,884
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I have seen leasebacks make a comeback and is useful for all involved...

May 09, 2021 06:39 AM
Ambassador
5,209,325
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

That is one of the options we suggest, in the end it comes down to what works best for the buyers and sellers.

May 09, 2021 12:20 AM
Ambassador
4,490,254
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Lease-backs have become more popular, both from sellers wanting them but being offered by buyers to be more competitive. We have a form here in CA to deal with this for renting less than 30 days, and 30 days or more. Obviously won't work for all buyers - depends on the situation.

May 08, 2021 08:28 PM
Rainmaker
4,730,715
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Almost every home I have shown that is occupied is asking for 30-60 day rent-backs.

May 09, 2021 06:00 AM
Rainmaker
4,015,808
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Once upon a time leasebacks were standard practice, then possession at closing became common and now we are back to leasebacks. What goes around comes around!

May 10, 2021 04:18 AM
Rainmaker
1,696,844
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

Have to do what you have to do. It's not optimum but should be kept in your tool box for sellers

May 09, 2021 08:15 AM
Rainmaker
868,841
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

In some states this provison is common or even baked into the transaction.
In my location, there has been no need to such a provision.
But, that does not mean there is not a value add opportunity.
Based on expressed or perceived need, I could do any of the following:
1. Repeairs
2. Clean
3. Arrange POD. this removes one pain point when needed furntirure delivered.
4. Provide POD packing resources
5. Pay moving costs
6. Arrange discounts for short term stays. I have several B&Bs where I can check scheduling to offer some flexibility.
I work like hell to eleimate any post closing complications. One 'I won't leave' situaion makes it clear you don't want to do there.

May 09, 2021 07:34 AM
Rainmaker
1,176,328
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Rent back agreements are a given in CA so it has to be more creative than that for us. Individual plans tailored  to the strategy of the individual seller that's what I'm tasked with here; way too much to share here...

but if you read some of my past posts a lot of what I've done is revealed.

May 09, 2021 07:19 AM