A rent-back agreement is an agreement reached between a buyer and a seller when the seller still needs to occupy the home. The DiMora Team are real estate experts in the Novi and Northville neighborhoods, and we know that there are common reasons that a rent-back agreement may be something to consider as a seller may include:
- Delays in moving to your new home, such as construction disruptions or inclement weather if you must travel
- Your child would benefit from completing the school year in their current district
- You’ve negotiated a period of time before departing your current job that has exceeded timeline expectations
Once you’ve successfully completed the process of selling your home and completed the closing, despite being ready to vacate and hand the keys to the buyer, there are circumstances that can arise where you, as a seller, must continue living in the home that you’ve just sold. In these unique situations, a rent-back agreement can be tremendously helpful. And, thankfully, a rent-back agreement can be helpful not only for you, but also for the buyer of the home. While every situation is different, anything that can cause a delay into leaving the home is cause to consider a rent-back agreement. This is especially important if another place to live temporarily is not readily or easily available to you. Check out below to see what sold in Simmons Orchard in November 2024:
24485 Bonnie Brook Drive, Novi: 3 bedrooms, 2 bathrooms, 1,843 sq. feet, 2 car garage, Sold Price: $415,000
Simmons Orchard Home Sold
November 2024
For more information on Simmons Orchard, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.