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Sell. Pause. Breathe...Move.

December 23, 2022

Sell. Pause. Breathe...Move.

Sellers: You can close on the sale of your home, take a breather and then move when it's convenient for you. 

Last year over 65% of our transactions had a “Seller in Possession” after the close of escrow. 

A Seller in Possession (SIP) period is intended to grant the seller a license to remain in possession of, and use, the property after the Close Of Escrow for short-term occupancy (i.e. 29 days or less).

A "SIP" gives sellers access to the funds and the extra time they may need to pack and move. 

Buyers: Offering an SIP can strengthen your offer and put you ahead of the pack. 

Benefits to Sellers:

  • Proceeds from the sale are available to help with moving expenses
  • Extra time may be needed to find a new home or to plan the next step
  • Flexibility to finish work, school, or other obligations prior to moving

Benefits to a Buyer:

  • Opportunity to present a strong offer
  • Potential to have the first month’s expenses covered by the seller
  • Home will not sit vacant while you make your move

Note: A “Seller in Possession” is not the same as a “Seller Rent-Back", which is a used for possession that is longer than 29-days.

Talk to a Coastwoods agent to find out how an SIP can be used to your advantage. 

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