Selling And Renting Back Your Home

Selling and renting back your property is a big decision. It’s important you understand the sell and rent back process and how you will benefit. Basically you are selling your property to an investor who is then going to allow you to rent it back. In many cases it is agreed that once you sell your property you will be able to rent it back for as long as you need. However, this should be agreed in writing before you sell.

Why sell and rent back?

· You would like to release equity

· Need to pay off debts

· Avoid repossession

· Divorce settlement

· Bereavement

· Emigration

Advantages of a sell and rent back are that it can prevent you and your family from being evicted should you be facing repossession. It allows you to stay in your home preventing upheaval and disruption to you and your family. If you have a large amount of debt sell and rent back can help you become debt free quickly and privately. Also if you need to sell quickly perhaps because you are emigrating or settling a divorce a sell and rent back scheme could be of use. A sell and rent back opportunity is of particular benefit to older people who no longer wish to be burdened with actually owning a home.

The sell and rent back option is not for everyone and any decision like this should be thoroughly researched. In many circumstances a homeowner can rent back their property for much less than their prevouse mortgage repayments thus relieving financial burden. This is ideal for retirees and people who need higher disposable incomes.



Repossession