How long will you remain in your home after it sold? If you’ve identified a new home and set a closing date, you have an idea of how much time you’ll need. But in certain cases, such as an out-of-state move where you haven’t found the right home yet, your move-out date isn’t as cut-and-dry. Consider adding a clause to your agreement with an option to extend the rent-back term up to a certain number of days in the event you need extra time. The DiMora Team are real estate experts in the Northville and Novi neighborhoods and we know that you should keep in mind that if your buyer purchases your home with a mortgage loan, the lender has its own occupancy restrictions. If the lender requires the buyer to occupy the home, the buyer typically has up to 60 days to move in. The occupancy requirement could limit the number of days your buyer agrees to rent back the house. Check out below to see what sold in Steeplechase in May 2021:
19001 Heather Ridge Drive, Northville: 4 bedrooms, 3.1 bathrooms, 3,016 sq. feet, 3 car garage, Sold Price: $700,000
Steeplechase Home Sold
May 2021
50528 Eagles Nest, Northville: 4 bedrooms, 4.1 bathrooms, 3,524 sq. feet, 3 car garage, Sold Price: $710,000
Steeplechase Home Sold
May 2021
50464 Eagles Nest Court, Northville: 5 bedrooms, 4.1 bathrooms, 4,463 sq. feet, 3 car garage, Sold Price: $885,000
Steeplechase Home Sold
May 2021
Talk to your insurance agent about what type of insurance you’ll need after the sale of your home since the new owner’s home insurance won’t cover your belongings as a tenant. You will probably need renter’s insurance to cover your possessions in the event of loss or damage. For more information on Steeplechase, or similar Northville or Novi neighborhoods such as Woodlands of Northville, Beckenham and Pheasant Hills, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.