Hi, it’s Nick with Sell my San Antonio House, and a lot of times when we buy houses, the people we buy them from need to stay in the house for a little while after we purchase the property. How can you do that? Most of the time when you sell it, what you’ll do is you’ll add in a temporary lease or a leaseback so that you sell the property and you are leasing it back from the new owner.
What that does is give you time. Most of the time when we get asked, it’s either because they need the proceeds from the sale of the property to purchase another property or to move to another property. The second one is, especially if they’ve lived in the home a long time, they want to sell the property, have their new place, and it takes them a little while to transition from their current home to a new one.
What we’ll do is we’ll structure in there a leaseback or seller’s temporary lease. When you do that, you usually, as the seller, you’ll usually put up some form of deposit, similar to a new renting a property, and then there’ll be a set amount per day that you will offer to pay for the leaseback. All those numbers are completely negotiable between the buyer and seller, whatever both parties feel comfortable with, they can add in there, of course, within reason. Now, if you need that, you want to make sure that you let the buyer know at the beginning because not all buyers are going to be comfortable with that. We are able to do it, and we do it a lot because we purchase houses as our business.
We’re not in a situation where we need to move in right away or we’re moving our family in, or we have to start the project that day. If it helps we can offer that, but there are other times when people who are even are purchasing the home to move in themselves, that they’re willing to give you a lease back for a certain amount of time. The other thing that you want to keep in mind is most sellers’ temporary leases or those leasebacks are only for a certain amount. They don’t do them for six months, a year, typically. I’ve done them for two days because the folks just needed a little time to get out, a couple of months.
It depends on everyone’s situation. Think about what you need, and what’s really important to you and just be upfront about it, but know that there is an option. If you sell the property on this day, but you can structure your deal so that you have so much time to move out or to find another place or to help you transition. If you’re worried about how you can stay in your house after selling it, getting a seller’s temporary residential lease is a great option. If you got any questions or we can help you with anything, give us a shout (210) 201-6644, or you can find us on the website, sellmysanantoniohouse.com.