When you’ve sold your current home and the timing on the settlement dates on your new home isn’t working out quite as you planned, you might be able to negotiate with your buyers to stay put in your own home until the next one is ready. The DiMora Team are real estate experts in the Northville and Novi neighborhoods and we know that how long you can stay in your current home depends on the needs of your buyers. Most lenders allow a rent-back for a maximum of 60 to 90 days. After that, the home is considered an investment property and that will change the terms of your buyers’ financing. Check out below for what sold in Woodlands of Northville in June 2015:
44561 Spring Hill Road, Northville: 4 bedrooms, 4.1 bathrooms, 4,725 total sq. feet, 3 car garage, Sold Price: $560,000
Woodlands of Northville Home Sold
June 2015
44548 Spring Hill Road, Northville: 4 bedrooms, 4.2 bathrooms, 5,643 total sq. feet, 3 car garage, Sold Price: $590,000
Woodlands of Northville Home Sold
June 2015
In spite of all these important negotiations and arrangements that must be made, rent-backs are fairly common and provide an easy solution for the sometimes complex maneuver of moving from one home to the next. For more information on Woodlands of Northville, or similar Northville or Novi neighborhoods such as Steeplechase, Ravines of Northville and Beckenham, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.