WHAT IS A LEASEBACK?

Have you thought about selling recently but wondered, “But where will I go?”

You’re not alone!

If you need to sell before buying, whether it’s because you need the money for the downpayment or wouldn’t qualify to hold both mortgages at the same time, a leaseback option may be something to consider!

So, what exactly is a leaseback? It’s an arrangement between the buyer and seller in which the seller remains in the home for a set period post-settlement, with the buyer assuming the role of landlord (meaning you, the seller, essentially become the tenant!).

This can be a great option if you need to sell your home first in order to qualify for your new home or if you need the money from the sale for the downpayment and don’t want to move twice or into temporary housing!

 

Have questions about how you can buy and sell simultaneously in our current market? Send me a message. I would love to discuss your options to help make your next move seamless and enjoyable!