If you’re selling a home and may need more time to move out, you can make a legal arrangement with the buyer to stay in the house or condo, even after you close on the property.
What is a leaseback agreement in Florida and how does sale leaseback work?
Also called a post-occupancy or rent-back agreement, this arrangement is governed by state laws and regulations. Your Lang Realty agent works with real estate lawyers routinely. They’ll help draft a leaseback that not only meets Florida’s legal requirements, but is agreeable to both parties.
What is a 30- and 60-day leaseback?
That’s the average time for leasebacks, detailing how long the seller can legally stay in the property. But it should also spell out who is responsible for expenses like maintenance while the seller is still there, and protect the buyer’s investment. Real estate experts agree that leaseback agreements are not one-size-fits-all. So always make sure both the seller and buyer thought of all the eventualities. That’s the advantage of having an expert Lang Realty agent who has been there, done that.
