That is where a rent-back agreement can come in. What is a rent-back agreement? A rent-back agreement, sometimes called a seller leaseback or post-closing occupancy agreement, allows the seller to stay in the home for a set period of time after closing. What buyers and sellers should watch forFor sellers, the biggest responsibility is treating the home carefully even though they no longer own it. A rent-back agreement can be a win-win when the sale is solid but the moving timeline needs a little flexibility.