How To Leverage Short Term Rentals and Rent Backs When Buying Your Next Home

In this video, we discuss how to leverage short-term rentals and rent backs to make you a more competitive home buyer. The Seattle real estate market is heating up, and this can create problems for first time home buyers as well as home buyers who already own a home. In a competitive market with multiple offers, a seller is unlikely to choose a contingent offer from someone who needs to sell their current home before purchasing. If you're a homebuyer who already owns a home and plans on selling, below are two options to make you more competitive and set you apart when making an offer.

Option 1: Rent back your current home from the new buyer -
As a seller looking to buy, you can negotiate into the contract a clause allowing you to rent back for a fee or for free. This allows you to qualify for your home purchase without the contingency, which makes you a stronger and more qualified buyer.

Option 2: A short term rental -
Sell your house and move into a short term rental. This may be a less convenient option, but it makes you a non contingent buyer, and therefore, a stronger buyer.

Each strategy has pros and cons, but they are great options to make you the strongest buyer in a competitive market like Seattle.

Videos referenced on making competitive offers:

Real Estate Negotiation Process (Making an Offer) -    • Making an Offer: Real Estate Negotiat...  
Best Real Estate Negotiation Strategies (Multiple Offers) -    • Multiple Offers: Best Real Estate Neg...  

A few other videos you might find helpful as you get started with your home search:

How Long Does It Take To Buy A House In Seattle? -    • How Long Does It Take To Buy A House ...  
Needs, Wants & No's: What Are You Looking For In A House -    • Needs, Wants & No's : What Are You Lo...  

Thinking about buying or selling a home in Seattle soon? Please don't hesitate to reach out! People like you regularly contact me about their real estate goals after discovering me on YouTube. I'd love to bring value to your situation too.

Contact Zach:
call/text: (425) 343-3661
email: [email protected]
http://mcdonaldresidential.com/contact/

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