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Your best bet is to lease it to yourself/family member right now for 2 yrs, and list it with an agent as an investment property so they disclose the presence of a 2 yr lease on property. In tx the lease remains in effect upon sale of a house. Investors that look at house will be happy to know there is a 2 yr lease as long as rent is at market value.
It would be much harder to just list a home for sale and then ask for a 2 yr leaseback. You'd be wasting agents time since most regular buyers won't do that.
You can also contact several real estate companies and ask for ph numbers of investors who buy homes in your area.
It is not at all unreasonable to list it and specify in all marketing that you want a 2 year lease back.
Many investors would like to have a tenant in place.
Be ready to formalize the entire arrangement, with lease documentation.
Accept the frame of mind that you will be a tenant, not an owner.
1. Get a good local Realtor
2. Have them write up a 2 yr lease at market rate
3. Have the agent list and market the house as an investment property with a 2 yr lease in place.
A buyer probably wouldn't want a 2 yr lease that was way below market, but an investor wouldn't balk at a 2 yr lease at market.
Real Estate companies aren't going to give you investor phone numbers.
A 2 yr lease back is unreasonable, a 24 month lease is not unreasonable.
Good luck
1. Get a good local Realtor
2. Have them write up a 2 yr lease at market rate
3. Have the agent list and market the house as an investment property with a 2 yr lease in place.
A buyer probably wouldn't want a 2 yr lease that was way below market, but an investor wouldn't balk at a 2 yr lease at market.
Real Estate companies aren't going to give you investor phone numbers. A 2 yr lease back is unreasonable, a 24 month lease is not unreasonable.
Good luck
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I don't understand the difference: "A 2 yr lease back is unreasonable, a 24 month lease is not unreasonable."
???
I don't understand the difference: "A 2 yr lease back is unreasonable, a 24 month lease is not unreasonable."
How does a "lease back" differ from a "lease?"
A lease-back is a 2 page addendum that can attach to a contract, but it's only good for 90 days, so it's not even an option to do a lease back in the first place for 2 years. Then a regular lease is 15 pages. People like the 2 page one, but take advantage of when and how to use it.
A lease-back is a 2 page addendum that can attach to a contract, but it's only good for 90 days, so it's not even an option to do a lease back in the first place for 2 years. Then a regular lease is 15 pages. People like the 2 page one, but take advantage of when and how to use it.
OK. Got it.
I think we have a 10 day limit, but don't share the same terminology.
We call it "Seller Possession after Closing," with that specifically-titled form having a 10 day limit.
And, we say "Lease back" as a slang form with no real definition. It could be either 10 days or two years. Two years, actually anything over 10 days, would require a regular lease agreement, of course.
Looking to find a buyer who is willing to rent back the home for 2+ years, presuming Texas law allows for this (?).
Home is owned 100% equity free and clear, and is Homesteaded.
Borrowing is not an option.
Normal RE Agent doesn't seem to make sense.
How does one go about finding such investors?
Google searches bring up UK firms and info on short term 30 - 90 day rent backs. Not much specific to this.
Thanks.
I think everything is going to depend on the the home itself. I think your local MLS is still the right place, but you would need to fully describe the sale and the terms so regular folks who are looking for a home themselves, dont waste your time.
I would expect that you would:
1. have to sign a new lease - the real 15 page lease.
2. Put down a security deposit.
3. Inventory form of condition of everything - would need to match EXACTLY to your disclosures
4. Expect not to get full market value...I'm not thinking a huge deduction, but most investors don't pay retail. They pay less than FMV. I buy rentals all the time, and the only time I pay retail is when I need to buy in a certain area that I expect is rapidly appreciating.
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