This means the buyer will close on your home, and you get to stay for an allotted amount of time after the closing. With this option, it allows you to go through a smooth closing process because the lender and title company have more flexibility. You can have cash on hand for your next purchase and take the extra time to move. Typically, you pay the buyer rent as a credit to the buyer at closing. These periods last from 5-60 days and is more common when building a new home.
#realestatevocab #realtorvocab #vocab #Realtor #realestate #renting #rentback #sellertips #homesellers #homeselling #sellers #selling #homebuyers #buyingahome