Tips for Increasing Your Chances of Renting Back Your Home after Selling As-Is to a Home Buying Company

So you’ve decided you need to sell your home as-is, but you aren’t ready to leave it yet. You want to try to negotiate an option to rent the home back from the buyer as a part of the sale. To successfully negotiate that option, you’ll need to present yourself as a tenant worth renting to. So what should you do to increase your chances of success?

Take Care of It

Often, choosing to sell a home as-is means that it’s not in the best condition ever. Sometimes it’s in downright bad condition. That can be a red flag to buyers if you intend to ask them to lease the home back to you. They’ll expect you to continue to care for the house as you have been. The better its condition, the better that reflects on you as a potential tenant. Do your best to take care of the home so you look more like a responsible tenant who will continue to care for the property.

Improve Your Credit Score

You also want to look like a tenant who will pay rent on time and in full. This is a major reason why landlords like to run credit checks on prospective tenants. A credit score can give them an idea of what to expect from you in that regard. The better your credit score, the better the chances that you’ll keep up on rent payments.

Find the Right Buyer

Not all buyers are interested in renting a home back after they buy it, but some are. If you find a buyer who intends to rent the property after finalizing the purchase, you’ve opened the door to the option of renting your home back. At that point, all that remains is to convince the buyer that you’re the one they should rent the property to.

Sometimes circumstances dictate that the best thing for you to do is to sell your home and try to rent it back from the new owner. If that’s where you’re at, see what you can do to make yourself look as much like an ideal tenant as possible. From there, it’s a matter of finding a buyer who is interested in leasing the home back to you.

Do you have questions? Joe Homebuyer Dallas has answers! Click here to see some of the most frequently asked questions and our answers.

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