After we close on sale of our house, we will have to lease back for almost 7 days. The buyer is saying $80/day. Is that reasonable?

I guess it's cheaper than a hotel + storage.

Thoughts?
TIA

FWIW, I am purchasing a home and doing a leaseback for 30 days at $65/day. I think it depends on the rental market in that area though.

The amount is usually based on per diem ITI, as in PITI without the principle. In this market I am seeing a broad spectrum. Typically weekends are gratis, then it comes down to how much leverage the sellers have. An extended free leaseback is a nice tool for a buyer to use in a competitive market. I currently have a seller getting over 1 month leaseback for free. If you are the seller and you had multiple offers on your property, you can typically stipulate a free leaseback if the buyers want it enough.

If you are located in a hot Seller's market (Texas), for under 7 days I'm typically seeing $1 per day. Buyers will do what it takes to get the house.

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Just got 2 week free leaseback on property I am selling. Inner loop houston.

In the case of the seller I purchased my home from he needed a 3 day lease back because he couldn't close and move into his new home until after we had closed. I agreed to a free lease back because after we signed the contract he had agreed to leave a few things with the house at no charge.

I'm curious. What did your agent (if you are using one) suggest?

Turns out we only need to lease back for 2 days. Found out our buyer will be out of the country for a few weeks right after close, so she was more than happy to lease back. Since it's only 2 days, it's whatever. We settled at $75/day. She's paying a good chunk above list too

Our realtor has been out of town, so we didn't really ask for her advice. The deals (our sale and subsequent buy) were already inked anyways. Just minor details at this point.

Hot markets have buyers giving the sellers leasebacks for nada. Makes an offer more attractive to the seller because sometime they don't even have a place in mind yet, so it has been a successful component of the offers my wife and I have been submitting for clients to stand out in a multiples situation.

Holdover is a different story.

Leasebacks for free...do they tend to give a depost?

Leasebacks are a necessary evil in this market since the seller's have the leverage. I don't like them because you can't do a real wall-through before closing.