The timeline of selling your house won’t always work out as perfectly as you hope. Sometimes, you might have to jump on an offer that you receive even though your new house won’t be ready to move into for another few months. In this type of situation, you should try to sell your house and then rent it back until you’re ready to move into your new house.
How to Sell for Cash
Selling your house to a cash buyer is a bit different than selling your house traditionally. To get an offer from a cash buyer, you’ll need to contact your cash buyer and request one. They’ll then take 24 hours to calculate your personalized offer that is based on the value of your home. Once you’ve accepted their offer, you’ll need to meet their buying requirements and then go through the closing processes. In all, selling your house to a cash buyer should only take a few weeks.
Why Rent it Back?
Not all homeowners have to face a situation where they’d need to temporarily rent back their home after selling it, but it can be a beneficial solution if you’re in a bind. If you’re building a new house or preparing to close on a new house that you’re going to move into, those processes can often take longer than you expect. You can’t always wait around to sell your house when you have buyers that are ready to give you a great offer at present. So, a way to get the best of both worlds is to sell your house while you have a buyer that is willing and rent your house back until you’re ready to move.
Negotiating Renting
When you’re selling your house to a traditional buyer, they’ll usually be in a rush to move into your house and might not be very flexible if you’re looking to rent your house back for a while. Cash buyers, on the other hand, will have more flexibility when it comes to renting. Cash buyers generally purchase homes with their own funds, and often “flip” or renovate the homes to make a profit. For this reason, a cash buyer might not be in as big of a rush to occupy your house once it is sold. This means that you should be able to rent your house back if you need to. Make sure to talk to your cash buyer to negotiate the terms and length of your renting.
So, if you’ve realized that your timeline for selling your house doesn’t match up with your timeline for moving out, remember that you might be able to rent back your house for a time. Renting back your house can help you to save money and have a place to live while you’re closing on your new home. There is no better buyer than a cash buyer to help you to achieve these goals.
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