What is Sell and Rent Back?

In simple terms, sell and rent back means you sell the property to the buyer and instead of relocating to another house you stay in the same house but as a tenant at an agreed rental price that you can afford. People generally plan to sell their house when they face certain problems like financial difficulty, Divorce, Emigration and Release Equity. Financial difficulties arise when a person is not in a position to pay mortgage amount on time. Mortgage problems arise due to job loss, health reasons, high interest rates etc. There is a solution to your problem. You can sell your property for cash to a specialist company and live in the same house as tenant.

People take divorce as they can’t get along well. Separation is a very painful process. In Divorce situation, couples plan to sell the house. But due to emotional attachment or reduce inconvenience one party decides to stay in the same property. A sell and rent back may be ideal in these situations. People who are planning to Emigrate may face the problem of selling their house fast. This may be a stress factor for them. The best solution would be to sell the house quickly to a specialist company and stay in the same house as a tenant till the time comes when they have to leave. Some people want to release equity for future purpose like starting business overseas or want to emigrate somewhere else. It may take some months if they sell their property through a broker. It would be best if they choose sell and rent back option.

If you are planning to sell the property to a specialist company they will find out worth of the property. They will find out what is the average rental figure in your area. The maximum rent that you can afford, which may or may not be as high as the average rent. Once the specialist companies have done their analysis they will find out if the package suits them and then discuss the figures with you over the phone. If you like their offer they will visit your property. It is not important that you accept their offer at this stage. Specialist Company will see your property and if they are happy with it they will confirm your offer. If you have any questions to be answered they will be ready to help you. If you decide to sell and rent back then Specialist Company will handle all the paperwork to you. It would be better if you appoint solicitor who will work on your behalf. The sale will take about four weeks from the time you accept the offer.



Sell and Rent Back