Short Sales and Leasing

I understand that a Short Selling Owner can NOT monetarily benefit from the sale of his/her home; however, are they precluded from RENTING the home they just sold, back from the new owner?
  • May 03 2010 - Whittier
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Answers (2)

No, the seller is not precluded from renting the house back.
  • May 05 2010
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To my understanding renting it back from the new owner should be ok. The banks approving the short sale are more interested that the actual sale is a Arms Length transaction, and buyer and seller do not have any connect. It doesnt speak about after the transactions and renting it back to the previous owner.
  • May 05 2010
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