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  • Writer's pictureMeagan Roe

Rent back agreements: What home sellers/buyers need to know

Rent back agreements are becoming a more common feature of real estate deals, and it'simportant for both home sellers and home buyers to understand what they are, how they work,and how they can impact your home buying or selling experience

What is a rent-back agreement?

A rent-back agreement allows you to remain living in yourhome after selling it through a lease-back arrangement.

You'll pay rent based on the value of theproperty, which will usually be comparable to what you were paying before you sold it.

The amount of time you're allowed to stay varies by agreement.

This gives you time to find new housing while allowing the buyer enough timeto sell their home.

What are the benefits?

Rent back agreements provide peace of mind for sellers because theyknow exactly when they'll be able to move out and find another place to live.

It also allows them more time to find new homes without being rushed into buying one right away--and allows them more time with their families during such a stressful time as moving.

For buyers, it gives them more control over the process since they don't have to worry about finding another place withina short amount of time after closing on their purchase.

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