“ Now the next thing about that is, damn.. I was doing good on that video and just totally lost my train of thought. It’s deer season!
Hey folks! Realtor Chris Hall. Today I want to talk about a seller’s temporary lease back. Now in short what this is is the owner will become a renter and the buyer will become a landlord. Now, one thing I always want to tell my clients whether they’re a buyer or a seller is before you start your lease back period, reach out to your insurance company and make sure that you have the proper insurance. Alright? If you’re doing a 24 hour lease back maybe it’s not that big of a deal, but if you’re doing a few days, a week, or a month, you definitely want to make sure that you have the proper insurance just incase the unforeseeable happens.
Now, a lot of times people ask me the questions “Why would somebody want to do a lease back?” Well, let me give you a few scenarios.
Let’s talk about if you’re the seller, alright. Now, the great thing about a lease back if you’re a seller is it essentially gives you the ability to close on your home and lease it back for a period of time. Maybe that will keep you from having to do multiple moves, and get a storage unit, and maybe stay in a hotel or an extended stay or whatever.
Now for a buyer it’s really nice because you can offer that convenience to a seller and everything that has convenience comes with a price. So, if you’re in a multiple offer situation and say that seller really needs that lease back period, you could offer maybe a free lease back and maybe that would make your offer better than a higher offer that’s gonna kick the sellers out of the house in lets say 25 or 30 days. The next situation is if you have a buyer that maybe wants to get a home a little bit below marketing value or maybe try to get what they would consider a good deal, you know maybe that seller would be willing to pay for that convenience if you offer them a lease back and it’s something that that seller really needs. So, really a good tool, it can be very helpful for a seller and it can be a nice too for a buyer to keep in their back pocket. So, that’s they end of this video, I hope that you enjoyed! Until next time, have a great day!”