In residential Real Estate, we define a lease-back as an agreement between a buyer and a seller, in which the buyer agrees to lease a property back to the seller for an agreed upon amount of time and rent amount.
With the residential housing inventory levels reaching historic lows over the last two years in the Denver Metro area, LIVE Urban agents are utilizing lease-back agreements on a regular basis.
In situations where the buyer wants to close on a property, but does not necessarily need to occupy the home right away, this works out great for all involved.
- The buyer can take advantage of low interest rates by purchasing the property immediately.
- The seller can take a bit more time finding a replacement home, and can display the ultimate in purchasing power when they find itcash in the bank, no long-term lease, and the ability to close quickly.
So, if you've been thinking about selling your home in this optimal seller's market, but have been worried that you will end up homeless, rest assured that there are options, and a lease-back might be the perfect answer.
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