Home sellers using rent-back as safety net
Avoid moving twice by staying in your old home while shopping for a new one
Some sellers who own one home and want to move to another have been having a difficult time making the move in the current housing market. Most sellers can’t afford to buy a new home first, move in and then sell the old house.
Financial constraints usually force sellers into a position where they need to sell first, unless they are buying in a soft market where sellers are open to accepting offers made contingent on the sale of another property.
For sellers who need to sell first, the nagging question is: Where do I move when this house sells? If you can buy contingent on the sale of your current home or contingent on the close of that sale if you already have a buyer for your home, you can move directly from your current home to the new one…
Read the rest of this article by Dian Hymer online here: “Home sellers using rent-back as safety net”.