Answer: The reasons why a seller might need to rent back after closing vary, but it’s not uncommon for a seller to request a rent back. The home the seller is buying might not be available at the time your transaction closes or the seller might not be able to find a moving van on the last day of the month, when demand for moving vans is high.
Of course, as a new home buyer, you might find this situation unsettling. After all, you’ve paid a lot of money for your new home, on top of paying interest on a loan for a home that you can’t yet occupy. It’s understandable that you are eager to move in and take possession right away. Plus, you may not have anticipated finding yourself in the position of being a landlord.