Some of the hardest real estate decisions revolve around timing. When do you sell and when do you buy? This is usually complicated by the two concepts not always lining up at the same time. Maybe the property you want to buy is not ready, so what do you do if you are ready to sell? The answer is a leaseback.
If you are ready to sell and want to have the worry around selling out of the way, then a leaseback can be a great option. In essence, you can sell your property, close the transaction, and then if it’s agreeable to the buyer, lease the property back from the new owner short-term. Obviously, this is something that needs to be worked out with a potential buyer in advance, but you would be surprised how often it’s not an issue. The buyer may be in the exact same position and it’s a win-win for both parties. This doesn’t always work out with all buyers, but it is an option. The single biggest benefit is you can potentially sell and close on your property, removing the worry. This is just one creative solution to a potential problem.
If you have any questions, please contact me.