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Reply to "Sell current home, use for down payment on next home"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]the folks we bought our house from negotiated a 60 day close and 60 day rent back. they took that 60 days to target an area hard and look at inventory, then put a contract in right after our closing when they had the $$ they used the 60 day rent back to close on their new house and then let the kids finish the school year. pretty smart i think. of course they had more power in the purchase as we were in a competitive bidding situation. not everyone is comfortable with a rentback but our housing situation was flexible so we were good with it, for the price we bid. [/quote] "Rent back", meaning the sellers negotiated to pay the buyer rent to stay in the house AFTER closing??[/quote] Yes[/quote]
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