Closing Tip 101: The Rent-Back Agreement

Sometimes sellers can find themselves in a difficult position upon closing when they have to be moved out by a certain time. This can cause an enormous amount of stress especially when the closing date has been pushed back on several occasions and it becomes uncertain rather the buyer will close on a particular day or even at all. 

Therefore, the savvy thing to do is to negotiate for a move out to take place a couple days after closing and the seller pays a small amount of consideration in rent for those few days. It makes for a much easier transition and it assures the seller they won't be stuck with a deal that has fallen through and all their things are already out of the house.