Sell with option to rent back until they find a place

[Vy Mai]

We are making an offer on a single house near UMass Lowell as an investment property. (3 bedrooms,1 bath. 5 minutes walk to the university).  However, the seller accept the offer but asking to rent back until they find a place. However, this condition was not listed on the listing...Hope to receive advices as what to do?

[Steve Vaughan]

@Vy Mai what can happen in a leaseback is the seller puts x months of rent in escrow from the sale so you're not tracking them down to receive rent or having to 'qualify' them.  

If they are expecting it to take 2 months to find a place, ask for 3x rent (or whatever you think) to be withheld in escrow from their sale proceeds.