Can I Sell My Home and Buy a New Home without Renting In Between?
I got this question via my Roseville & Rocklin Facebook page.A reader wants to know if he can sell his sell his house and buy a new one without having to move into a rental in between. A short term rental is a SUPER pain. Not only are they difficult to find, and often more per month than a 1 year lease, but you have to move twice! Moving is one of everyone’s least favorite things to do so eliminating the hassle and inconvenience of a move is the best case scenario.
The good news is YES, you can sell your home, find a new home, and not rent in between. It’s called a “rent back.” In a rent back, you sell your home to a buyer who understands that you need to stay in the home after the close of escrow. You agree to pay rent for a set number of months. Usually the rent covers the new buyers expenses (mortgage, insurance, and taxes) during the length of time you need to stay. Then, you purchase a new home and move just once. No annoying rental!
A rent back is a great solution if you’re not able to carry two mortgages at once. Of course everyone’s situation is a little different and unique. Give me a call and I can clarify your real estate questions specific to you! Allan Sanchez: Roseville, Rocklin, Folsom Area Real Estate Agent: 916-205-2265.
Can I Sell My Home and Buy a New Home without Renting In Between?
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