Article: ?Renting Back? After Your Home Is Sold
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?Renting Back? After Your Home Is Sold
Sometimes it?s helpful to sell your home before you really want to move. This often happens when you are having a new home built, but aren?t sure of the completion date. Is there any way you can sell your home so you?re sure of the funds available for the new purchase, but continue to live in your old home until construction of the new one is complete. Yes, there is with the renting back strategy.
Enter the Lease-Back or Rent-Back Agreement
The particulars of this strategy vary from state to state, but in the strong seller?s market we?re experiencing, buyers will often agree to let the seller stay in the home for a period of time as long as rent is paid. In a competitive situation, the buyer willing to do this will often have the winning bid even though there ...
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