Living in your Sold Home After Close of Escrow

After the closing, may we stay and rent our old home from the new owner until we are able to move into our new home?

This option can only be explored once you find a buyer. You may discuss your needs with your agent and he/she can determine if the buyer is both willing and able to postpone their own move into the house. To play it safe, the buyer may also charge a refundable deposit, just like any landlord would. Not all buyers will be willing or able to give you a rent-back – remember, they’re moving too and likely have to give their current home notice or have sold the home they were living in. Also, there's always the chance that damages could occur while the seller is living there. That's why, if you plan to have a rentback, expect to have a holdback deposit of anywhere between $5,000 to $10,000. Typically, lenders won't accept anything longer than 60 days.

DRE# 1882046

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