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Portrait of a pre-foreclosure peacemaker

Housing Wire

Sandoval said her approach is one that is difficult for banks and mortgage servicers to replicate, not only because of the face-to-face experience she offers but also because of the inherent – and often misguided– distrust that many distressed homeowners have for financial institutions. Sometimes the seller wants one month rent back.

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Home inventory gains push demand for distressed properties lower: Auction.com

Housing Wire

That statement is backed up by First American data released this week, which revealed that real house prices — adjusted for income levels and mortgage rates — dropped by 1.3% from May to June. On an annualized basis, five major U.S. markets (Raleigh; Austin; Portland, Oregon; Tampa; and Denver) saw prices decline by 2% to 7% in June.

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It’s a seller’s market: What does that mean for contingencies?

Housing Wire

These contingencies are all designed to protect you as a borrower — to make sure you’re getting a safe and habitable property, that you have the funds to pay for it, and that you’re not stuck paying two mortgage payments at once. But they’re also an extra hassle for sellers. Sellers can have contingencies, too.

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How to Sell Your Home With a Rent-Back Agreement

HomeLight

You have options, such as a rent-back agreement, aka, a lease-back deal, that would allow you to stay in the home you just sold a bit longer to give you time to find a new place, to wait for the next home to be built , or to let your children finish the school year. What is a rent-back agreement?

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What Is a Rent-Back Agreement?

RIS Media

Under those circumstances, a rent-back agreement can be advantageous for both parties. How a Rent-Back Agreement Works. A rent-back agreement allows the seller to continue to live in the house for a period of time after closing. During that time, the seller pays rent to the buyer. Get Legal Advice.

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What’s a Rent Back Deal? (And Two Other Reasons A Seller May Still Be in the House After Closing)

HomeLight

We’ve got solutions and options for the specific scenario you face, whether it’s: You need to negotiate a rent-back. Scenario 1: The seller asks for a rent-back in the contract. There are a number of reasons why a seller could request a rent-back deal. The rent back isn’t a handshake deal.

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The share of owner-occupants buying foreclosures has doubled — here’s why

Housing Wire

I rented back to the previous owner, and they are still the tenant. The estimated monthly mortgage payment — including property taxes and insurance — required just 22.7% of income to buy an averaged-priced home nationwide, according to Black Knight ’s June 2023 Mortgage Monitor report.