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Why Should Austin Sellers Use a Lease Back?
Manage episode 172703820 series 1383236
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Seller lease backs are becoming more and more common in the Austin real estate market. Today, we'll discuss what they are, and how you can use a seller lease back to your advantage.
First of all, we know it can be difficult to be buying and selling a home at the same time. A seller lease back is part of the contract that lets the seller rent the property back after the property has been sold to the buyer.
The lease back starts on the closing date and can run 2 weeks, 30 days, or 60 days from the sale of the home. The lease back includes terms just like a regular lease. Essentially, the seller becomes a tenant and the buyer becomes a landlord.
You don't have to sell your home and close on your new home within a short amount of time. The lease back allows you time to find that perfect home, whether you're moving up, downsizing, or looking in a certain school district.
If you have any questions about today's video or about real estate in general, give me a call or send me an email. We would be happy to help you!
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