Have you ever wondered what’s next after you sell your home? The answer is usually that you move to wherever you’re living next. Reality isn’t always so straightforward though. If you’ve sold your house as-is to a home buying company, moving out right away isn’t always the best option for you as the seller.
Why Moving Out Immediately Doesn’t Always Work
Home buying companies like Bluebird Buyers have a reputation for moving through the sales process at an impressively fast pace. It’s certainly a lot faster than traditional buyers do. While that is great for a lot of sellers, it could leave you in a bit of a lurch if you don’t have another place to live lined up already. In such cases, your options are to move into a hotel for a while, find another place to rent for the time being, or ask for a rent-back option.
Asking for a Rent-Back Option
A rent-back option is exactly what it sounds like. You come to an agreement with the new owner of the property (in this case, Bluebird Buyers) to rent the property from them for a time. If that’s something you think you’ll need, talk to us about it as soon as possible. We do our best to work with sellers to make sure that every sale fits their needs as closely as possible.
Things to Include in Your Rent-Back Agreement
If you and the buyer agree to include a rent-back option as part of the terms of the sale, you’ll need to sign a rent-back agreement. It’s a lot like a lease for any other rental. The agreement should include things like the duration of the agreement and the rent you’ll pay. It should also cover any security deposit you’re required to pay, as well as any terms attached to it, such as the conditions under which it can be partially or fully refunded. The agreement should outline who is responsible for utilities and insurance, as well as the terms under which the owner can enter the property or store things there.
Everyone’s situation is a little different. For some sellers, moving out right away isn’t ideal. Talk to your home buying company about a rent-back option. You may be able to negotiate a deal, even if you’ve sold the house as-is. Do your best to show that you’d be a good tenant who would care for the property to increase your chances of an agreement being reached. Remember, it never hurts to ask!
Do you want to sell your home as-is? Bluebird Buyers would love to hear from you! Click here to request your offer today!
