How to make a buyer’s agent cringe: Ask for a 60 day seller lease back. While lease backs hold appeal for many sellers, it’s enough to make Realtors shudder at the thought of the problems that can accompany them.
A Sellers Temporary Lease allows the seller to continue living in the home after closing for a short time – anywhere from one to 90 days. It is designed to allow for delayed possession of the property by the buyer.
This temporary lease is used when a seller needs additional time after closing to relinquish the property. This may be for any number of reasons. The seller may be waiting for school to finish or need more time to move their possessions. Or they may just want to ensure the transaction actually closes and their funds are in the bank before moving out.