Sellers Doesn't Know If He Wants Free Rent Back

Good morning, Elizabeth -- your post strikes home...I just had this conversation with clients yesterday and it was a "two day holdover" that was part of a counter offer.  I informed them of the S.I.P. addendum we use in California and their concern(about that part of the counter offer at least) was over.   

More generally, tenants can be a problem because they need notice to leave. Luckily, just went into escrow where tenants can stay. Whew. You also mentioned "successor trustees". Am listing one now and little things pop up like a very old loan was never reconveyed. Enjoyed reading an older blog of yours about these types of sellers; yep, that's what I'm going through.

Hi Elizabeth... for the first time in 25 years, I did three contracts in the past six months or so with seller rentbacks... all was well at the end of them and both buyers and sellers were happy with the outcome and the rationale for doing them.

Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents ~ we've always had that option here, but it was little used. I think more that these days with homes selling so fast, sellers need some help in terms of timing to move on.

I had a seller that incentivized a buyer to NOT offer a rent back by agreeing to a lower price for the settlement date of the seller's choice, or if he had to rent back, asking for a higher sales price.  This seller was freaked out by the idea of a rent back too.  Worried about being a picky buyer's tenant.

Elizabeth,  I wrote an offer the other day - with SIP however it was for 29 days and the rent was not free. Sellers wanted free. So be it. My clients were not willing to suck up the $4,500 it would cost them to allow the sellers to stay. Its all good. We have choices to make and we make them.