Selling a home can be very difficult especially in an down market because of job losses, falling property prices, and the lenders not lending. Selling and renting back homes has steadily grown in its’ popularity mainly because it allows one to sell the house to the property buyer, get a fast home sale, and continue living there like a normal tenant. A sell, and rent back is actually an effective way of gaining liquidity fast while still staying in your house. It’s an ideal option for anyone looking to sell a home fast and still remain in it; as a tenant.
If your monthly outgoings are somewhat proving to be impossible to maintain, then perhaps one of the most sensible options is selling your home for a huge sum of money and then renting it back from whom you sold it to. Companies that provide this service can offer deals with fast house sales. In addition, they’re able to actually offer generous and wide range of the sell and rent backs packages that are appropriate for all those who want to release their cash equity that’s tied up in the property investment without necessarily having to face stressful situations of finding some new place to live.
Sell and rent backs also do serve as a brilliant means of preventing eviction through home repossession and, in most cases, they’re the only viable and best solution for anyone faced with prospect of actually losing their family house owing to high interest loans, unaffordable mortgage repayments and credit card bills that were secured on that particular property in question. Obviously, every set of different circumstances differs amongst those considering to sell, and rent back their home. Actually, this is the exact reason why a sell, and rent back expert is needed in order to help you find the most viable and perfect solution for your particular case.
See here on regulated schemes here: http://www.asksusan.org.uk/sell-and-rent-back-schemes-buy-your-house-and-rent-it-back/
How Sell and Rent Back Normally Works
The sell and rent back company may buy the property in question at a good market price, and you can then rent that home back from them. The company will 1st review all your personal circumstances, and then assess your financial ability to afford rental amount that’s required within the sell and rent back’s agreement. The sell and rent back company adviser may introduce you to the FSA Authorised Sell and rent backs provider who usually offers tenants the buy back option; This will all be explained to you in full.
The entire sell, and rent back procedure is pretty simple. It isn’t difficult and in many cases it is a win win situation. In case your home qualifies, you can sell it to a professional home buyer, remain living in that home, pay rent just like any other regular tenant, and even if you choose you to purchase the home back in foreseeable future, you do have the chance to do so.
Rent Back Options
Rent back options are perfect for home owners who may be in debt, and are no longer able to pay their bills and/or their mortgage. In certain cases, someone may have purchased a house and then a couple of months later, they might have lost their jobs or some hours may have been cut off, meaning they can now no longer afford to cater for the monthly payments required. The easiest thing for you to do in such a situation, is contacting your local home buyer and asking them to buy your house and then allow you to rent it back.
One other thing you need to check for, is the actual sell and rent back home selling option. You should also find out if the current selling situation will qualify fast and painlessly. The property home buyer will offer you various different options, however, remember that all home buyers options aren’t obligation offers.
Do Sell and Rent Back Homes Sell Quickly?
In most cases a sell and rent back home sells pretty fast. This greatly helps the home buyers who may be struggling with financial problems.
If you are in dire need for quick cash, you try out the sell and rent back option. You will not only take care of your financial owes, but you will also get to live in your much cherished family home.