In today’s Seattle market, sellers that are looking to move are in a particularly perilous situation. On one hand they are blessed with historic prices that tease them with monthly monstrous gains and then they are then faced with the endless battlefield of actually buying a home, a feat that closely resembles some scenes from Russell Crows Gladiator!
But a new trend making its way across the town is something sparking excitement! A little know contingency called the Rent-Back! I personally have multiple clients with this very contingency in place!
in short it is exactly what it sounds like! You rent back your property for a few weeks after closing giving you enough time to find that perfect home and get everything organized and move out! Sounds great right you sell your house and with a time specified between you and the buyer give yourself more time to get out there and look! thus eliminating the deal killing sale of property contingency.
Buyers may also gain from this process because including a rent-back could make their offer even strong with weary sellers! Personally I’ve had a off market deal go through because the sellers loved the Idea and my client the past victim of multiple bid wars was totally in love with the home and wanted to do what ever it took to make the deal happen!
Contact your Agent or Us for more information!