Rent-Back Benefits For Sellers

The potential benefits for a seller entering into a rent-back agreement include the following:

• More time to find your dream home. A rent-back agreement will give you as much time as a buyer is willing to give you to stay in the home.

• Avoid moving more times than necessary. You can avoid having to live in temporary housing or being forced to rent storage unit rentals.

• Accept an attractive offer within a short, close timeline. Once the right house comes along, you can move in fairly quickly.

Rent-Back Benefits For Buyers

Buyers can also experience the following benefits with a rent-back agreement:

• It may make an offer more attractive. The seller may need somewhere to live for a month or so, and if a buyer can offer to let them live in the home, it might be just what tips the scales in the buyer's direction. It might help make the offer on the home more attractive to the seller.

A buyer can earn rental income at the current market rate. The extra income can offset not only your mortgage payments but also some closing costs, appraisal fees, and attorney fees.