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How do I negotiate a rent back after I sell my home?

I need to sell my house before buying another. I'd like time (a few weeks) in between selling and buying the next house. How do I negotiate a rent back after I sell my home?

Asked By Charlie | Fort Worth, TX | 234 views | Selling | 1 year ago

Answer(2)

Semi-Pro

68 Answers

Julianne Clark / Your Lowcountry Realtor

Charter One Realty

(45)

The best time to do that is prior to accepting the Buyers offer and making it a contingent to the sale. If this is a new development -- needing extra time -- talk to your agent. The Buyers may be agreeable to allowing you to remain in the home a little longer at a cost (daily rental rate). There could be challenges. The Buyers may have a timeline that they need to stick too. When I representing a Seller -- I discourage rent back in most cases. Hear me out. Once the house is closed on -- it belongs to the new owners. Any damage (intentional or accidental) is the Buyers and the Buyers insurance companies liability. A final walk through will not show to the new owners the condition the home will left in at their possession, ow much stuff is left behind, any hidden damage or mover damage. There is a lot of trust involved -- most of it is the Buyers. Then there is the financing part -- there may be some lending programs that would not allow this. First call is to talk to your agent and see what can be worked out.