You’ve heard the news. You know that the Colorado real estate market is a seller’s paradise right now.
You own a home and want to cash in
“If I sell my home, I’ll have nowhere to go!”
One of the major fears Colorado home owners have right now, is becoming a buyer. It feels like leaving the sunny and warm beach and walking out into the ocean to swim with the sharks. “No thank you. It’s not worth it, and besides where would I live?” they say.
But would it worth upgrading your home if you DID have a place to go?
How about the home you already live in?
One fantastic solution to to home owner dilemma is called the post closing occupancy agreement. Let’s break it down.
What is it?
A post closing occupancy agreement states that after the buyer owns the home, the seller can rent back the home for up to 60 days.
The form will lay out the details of the amount of rent to be paid, the presence and amount of a security deposit, who pays utility bills, if the original seller will be required to have renter’s insurance, how many days the rental will go for, and more.
P.S. The market is very competitive and the rental amount is negotiable. So how does the possibility of living in your own home FOR FREE sound to you?
When is it completed?
The buyer and seller agree to complete this form at the time they initially sign a contract to sell the home.
How does this help a homeowner like me?
Having this form enacted allows the homeowner to sell their home and have ample time to go and find a new one that suits their needs even better. Even if a few offers don’t get accepted, with 60 days, there is still enough time to find the right home and not stress about being homeless.
This agreement also allows the seller to be able to make offers on a new home that are not contingent, or dependent, or them selling their current home. Because they already have!! This makes their offers much more valuable in this highly competitive market and more likely to get accepted in the first place.
So what’s not to love about the post closing occupancy agreement in the 2021 Colorado real estate market?
There’s no need to sit on the fence about selling your home right now. With some creativity and guts, your home dreams are just on the other side!