Archive for October, 2009
What is Sell and rent back?
Author: Admin
Sell and rent back is where you sell your house to a property company and rent the property back off them, usually under a long-term lease agreement. This is done for a variety of reasons:
> You may be unable to afford a reasonable rent
> Don’t qualify for equity release
> Having financial difficulties and need to release the money locked up in your house quickly
> Facing repossession but wish to stay your property long term
> Going through a divorce or separation and one of the parties involved wishes to remain in the house
> Emigrating for whatever reason
> Relocating and want to avoid a chain by selling your property quickly and remaining in it while searching for a new property.
Once you’ve found a trustworthy SRB company, they can offer you a good cash price for your house and a rent agreement that suits you. Many companies also allow you to buy back your property back at a later date. SRB can therefore give you the chance to solve a short term problem and then buy back your house when you’re in a better financial position.
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