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What is a Rent-Back?

Rent-back, or leaseback, refers to an arrangement whereby the buyer, who is now the new homeowner, agrees to allow the seller, the now-tenant, to stay in the house beyond the close of escrow. All of the terms are negotiated between the two parties prior to the situation & will almost always involve a lease deposit, a daily rental rate & also a length of time to be stated.

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