Could a Seller Leaseback give you the flexibility you need?
A Seller Leaseback can be a smart selling strategy when the timing of selling your home and making your next move simply doesn’t line up. Also called post-closing occupancy, it may allow you to close on your home and remain there for an agreed period after closing.
How Does a Seller Leaseback Work?
When a leaseback is required, I believe it’s best to make that clear right in the listing description. Buyers should know the requirement and the terms before they make plans to view the property, not after they decide they want to buy it. I disclose the leaseback requirement and terms in the listing description so buyers know about them before making plans to view the property.
Clearly State the Leaseback Terms in Writing
The seller leaseback should be clearly documented in writing, including the length of occupancy, rent and other agreed-upon terms. Florida Realtors provides additional information about post-closing occupancy agreements and the forms that may be used.
Read: The Most Misunderstood Form in the Library? — Florida Realtors
The sales contract must include a Post-Occupancy Addendum outlining the terms, including:
• Length of occupancy — generally, the post-closing period should be no longer than 60 days.
• Escrow holdback — the closing agent holds approximately $5,000 of the seller’s proceeds in escrow until the seller vacates the property according to the agreed terms.condition.https://agisunflowerventures.com/pro-seller-plan/
• Rent — I help the seller advise the leaseback terms with an addendum, including the rent amount.The seller may discount the home’s price to make the required leaseback more appealing to buyers
By establishing and disclosing the terms upfront, buyers can decide whether the arrangement works
for them before viewing the property or making an offer. It also helps eliminate negotiating the leaseback terms later.
In a recent Cocoa Beach sale, my seller agreed to a lower sales price and the buyer waived the leaseback rent. The seller was able to close, access the proceeds from the sale and have additional time before moving.
That’s why I look at more than just “What price can we get?”
Price matters. Terms matter, too. The right selling strategy can give you options.
🌻 Agi Anderson, Independent Broker
Sunflowers Realty, Sell Smart Solutions
📲 ContactAgiNow.com