Buying In a Competitive Real Estate Market

Buying In a Competitive Real Estate Market

  • Debby Belt
  • 06/5/23

The early spring real estate market  in Newton, MA saw lots of competition at certain price points. In a competitive real estate scenario, a buyer may want to offer a seller a “leaseback” or a “use and occupancy” option to distinguish their offer. In this scenario, a buyer purchases a home and allows the seller to stay in the home for a specific period of time. Typically, if there is a lender involved, the lender will allow a lease back of up to 2 months. Sellers often like a lease back because it frees them up to make a purchase without the stress of selling their home after the fact. Two of my Newton sellers were lucky enough to receive  and then accept offers with a leaseback this spring and one of my Newton buyers had an accepted offer with a leaseback.If you are a buyer,  you should carefully consider the following prior to offering a leaseback:Discuss  the leaseback option in advance with your lender. Most but not all lenders will allow a leaseback. Most lenders will  have restrictions.Carefully think through the terms of the leaseback with your agent and spell out in your offer  the terms of the proposed leaseback.

If you are looking to move immediately, a leaseback might not be the right for you.


Work With Debby

As your trusted advisor, Debby will vigorously represent your interests to create the best financial outcome possible.

Follow Us on Instagram