The Sell & Stay Option: Explained
Sometimes to secure your new home, you need to access cash from your current home. The sell and stay option, also known as a sale leaseback, allows you to access cash through home equity in order to get your down payment on your next home.
At Marketplace Homes, we specialize in erasing contingencies when you’re buying the new construction home of your dreams. Whether your new home will be ready in a matter of weeks or months, you can access up to 80% of your home’s value now and receive the upside when the home sells on the open market.
You also get to stay in your current home, renting it back, until you are ready to close on your new construction home. A Sell and Stay, or sale-leaseback, provides the flexibility to secure your new home while providing the convenience of staying as long as you need.
Why Sell & Stay Is Unique
Unlike other residential sale-leasebacks, Sell & Stay includes an option contract, which gives you the right to repurchase the home for a price agreed upon in the transaction. That’s right — you can lease as long as you’d like. Then, if you change your mind at any time during the lease term, you can buy it back.
Alternatively, you can move forward with your new construction dream home and ask us to sell your old home on the open market. You will then receive the full home sale value minus the Marketplace Homes buyback price.
No matter what you want to do, or what type of real estate market we’re in, our real estate agents are ready to help you meet your goals.
A Plan Built For You
After you sign up for the Sell & Stay program, we will let you cash out with up to 80% of your home’s appraised value. You become the renter and we own your home. Live in your home as a renter and enjoy a flexible home selling timeline on your terms.
You will pay a monthly payment as a renter and be glad that you won’t have to deal with nuisances like putting your belongings in storage, hefty hotel costs, expensive takeout food daily, or the joy of living in your mom’s basement. We will then give you the remaining proceeds after your sale-leaseback is over and we sell your home. Hands down, Sell & Stay simplifies the process regardless of the housing market you’re in.
Life can have unexpected twists and turns. If you change your mind at any point during your leaseback period, know that you have the option to buy back your home. You can also choose to stay the course and move out after your new home’s closing date.
At this time, your rent back period ends and Marketplace Homes will sell your old home on the open market and give you the remaining appraised home value. This makes the most of your home’s market value and eliminates the time loss and expenses of double moving – creating one of the smoothest possible new construction experiences.
Full Picture Evaluation
Financial situations come in all shapes and sizes. Unlike lenders, Marketplace Homes can assist people a wider range of credit scores, credit histories, and income types. Give us a call and let us know your situation and we can find the best options for you.
It costs nothing for prospective home buyers to get information about this program, and our realtors will be happy to answer any of your questions. Nothing is off the table- ask us about typical closing costs, what sale price your home can fetch on the open market, how life works when Marketplace Homes becomes the new owner for a season, and much more. We want you to know everything so that you can make a confident decision about your future.
The next steps
Get a Personalized Plan
We’ll craft a personalized Sell & Stay plan to provide the desired amount of cash you need from the available equity in the home.
Sign, Close, and Get Your Cash
After the Purchase Agreement to buy your home is executed, Marketplace Homes administers a traditional two to four-week real estate home closing process. At the completion of the closing process, your home is sold to Marketplace Homes, your lease begins, and you will receive the agreed-upon cash.
Stay in Your Home
You stay in the home as a renter while deciding on your next steps. At any point, you can exercise your Sell & Stay Option to repurchase or request Marketplace Homes to sell on the open market.
Learn More About What a Sale-leaseback Is
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Sounds too good to be true?
See what hundreds of our satisfied customers are saying about our people and our rental buyout services.
Marketplace Homes is a great real estate company! They worked tirelessly to list my house for sale, negotiated the price with agents for me, and got me more than I thought we could get! Cassie Ott was professional and gave me great advice on how to prepare for the transition to my new house. Excellent experience! Will def recommend.
We just had the pleasure or working with the team at Marketplace Homes and it was an absolute pleasure. They are professional, clear and concise with their communications and always respond in a prompt and courteous manner. We look forward to working with them again in the future!
Mike T. was amazing in helping us sell our home in Katy, TX so that we could move into our dream home!! The Marketplace Homes team bought our house so we didn't even have to go through the process of showings, it was the simplest way ever to sell our home....we can't recommend them enough.
Marketplace Homes did a great job marketing our home so that we can purchase our dream house. They asked the right question, stayed in constant communication, sent out a professional photographer and much more. The team is knowledgeable, like able and helpful. We sold our home very quickly thanks to them!
Working with Jon has really been a lot easier then I expected. My wife and I are both doing a 1 yr tour in Afghanistan and the Marketplace team has made sure to remedy any issues no matter what time we contacted them. True professionals that stick by their word.
Parker - Cincinnati, OH