What is a Seller Lease Back?

Seller Lease Back Amendment

A seller lease back is a contract provision that allows the seller to stay in their home for a period of time after the closing date of a home sale.  The seller may be charged a daily rental rate or it may be at no charge to the seller, depending on the terms of the contract.  The seller lease back provision in a real estate contract protects the seller from having to move out of their home prior to the closing and then finding out the buyer is unable to close on the sale.  We recommend all home sellers ask for this in the contract negotiations.  Without the seller lease back, the seller is expected to vacate the home prior to the closing.

This question and answer was taken from our Seller FAQ Page    Real Estate Buyers should Check our Buyer FAQ Page

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