Practice Quiz

Real Estate Agent / Broker / Salesperson Exam Prep

Category - Real Estate

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You are selling the house you live in, but the house you’re moving to is not completed. You need to stay on in the house a while after closing. You work out a deal with the new purchaser called a:
  1. no-rent lease agreement
  2. delayed possession for the new purchaser
  3. sale-leaseback
  4. lease for one year past closing
Explanation
Answer: C. A sale-leaseback is a technique in which a seller deeds property to a buyer for a consideration, and the buyer simultaneously leases the property back to the seller.
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