When a seller gets a leaseback it is (usually) between 3 days and 60 days. We are seeing a lot more seller leasebacks in this seller’s market. It is a legally binding lease and drawn up as a separate document from the purchase contract. Post occupancy agreements get very popular during a crazy seller’s market.
It is a nice tool for sellers if they are trying to find a home in the area when inventory is low. Possession and close actual happen on closing date then the new buyer becomes the landlord of the seller.
What is a Seller Leaseback/Post Occupancy Agreement
2021-04-28T11:17:34-06:00By Orson Hill Realty|Buyers, Real Estate Contract, Sellers, Writing an Offer|0 Comments
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