Selling Your Home But Not Sure Where to Move to? You Might Need a Rent Back Agreement

Selling your home can be a daunting process, and finding the right real estate agent who can guide you through each step of selling is key to a successful (and as stress-free as possible) sale! Recently, REALTOR® Curtis Gibson helped his clients successfully sell their home, all while negotiating a rent back agreement.

A rent back agreement is when a seller sells their home, and the buyer becomes a landlord to the seller. The two parties negotiate the timing of how long the seller will rent, etc., and it can be a helpful option for sellers who don’t quite have anywhere to move to yet.

When Curtis works with sellers, a couple of his top goals include:

  • Finding the best option for the sellers that balances getting top dollar for their home
  • Making sure that everything that happens after going under contract is manageable and on terms that fit his client’s lifestyle

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Over 2 years ago, Curtis began coaching this particular seller. Curtis and his client spent time comparing market conditions and he let her know when optimal selling points were, all while maintaining a “no-pressure” attitude. The seller was able to have the time and space to make informed, happy decisions, and having all of the information available and understanding the value of her home was a big part of that.

Part of the challenge with this particular situation is that the seller hadn’t yet decided where to move. After going over the possibilities together, the seller decided to sell her home and rent back while she searched for a new property to buy. The home ended up selling super quickly, and the rent back situation required Curtis to negotiate with the buyers and hold firm to make sure the seller had what she needed. Thanks to the rent back agreement, the seller didn’t have to worry about finding a home, going contingent, or scrambling for a rental—they were able to get a generous rental period to pack up and find housing before the buyers wanted to move in. Win, win!

Here are a few photos of the home:

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In a seller’s market, going contingent is a viable option, but it’s not the only option—especially if you haven’t quite decided where you would like to buy or move to after selling. There are many options, and negotiating a rent back situation is one great option—you can have more time to figure out your next move, and you aren’t forced to buy a home just because it happens to be available right after you’ve accepted an offer.

Here’s the seller’s testimonial that they shared via Real Satisfied:

“Before my home was listed, Curtis ensured that everything that needed to be done was taken care of. He was very organized. From the time Curtis and I agreed to list my home for sale, an offer was made within an hour. Then once my home sold until closing, Curtis continued communicating with me to keep me informed on what was happening next.”

“I’ve not had experience with any other real estate company besides Windermere before but my overall experience with Windermere was great because I was fortunate that Curtis Gibson was my broker.”

“Curtis is thorough, organized, honest, and simply stated a really kind man. I would recommend Curtis Gibson anyone I knew looking to sell their home.”

Curious to learn more about selling your home? Feel free to reach out to REALTOR® Curtis Gibson online here or give him a call/text at (253) 691-2521.

Posted on June 4, 2019 at 9:57 pm
Curtis and Megan Gibson | Category: University Place Real Estate

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