The positive efficacy of sell-and-rent-back
The year of 2009 has been a turbulent one as economies around the world have been hit by a widespread slump. As many people have lost their jobs, endured pay decreases and have no money to invest in property, the UK property market has seen many home owners in the position where they need to sell their property but no one is in a position to buy. Thousands of home owners wish to sell purely for financial purposes but have no wish to move house and that has led to companies coming up with a solution that will offer a much needed helping hand.
Why sell and rent back?
The ability to sell your house and then rent it back will enable you to free up cash without meaning you have to leave your house. You simply stay on as a paying tenant and if the harsh financial climate is threatening the loss of your home; the positive outcome of the scheme is immense. There are many reasons why people are finding themselves in financial distress from the current economic problems to other issues that have simply spiralled out of control. Moving house can be traumatic and chaotic at the best of times and if you have been evicted from your property or had it repossessed then it will be all the harder to endure. With the ability to be able to sell your house and rent it back, you get to not only enjoy a sizable bank balance and the stability that it will bring but you also eliminate any stress of moving.
What about fees and charges?
If you deal with an estate agent for a regular house sale you will incur many costs and charges that range from the percentage you pay the agency to the solicitor fees and they can quickly amount to more than you originally bargained for. When you sell your property to rent it back you will reap the financial rewards and stress limitations of no hidden charges and fees.
How long will it take?
The longer your house is on the market, the more complications you are likely to suffer, which inevitably means more costs. The efficacy of selling your property to rent it back with a property specialist rather than a straight forward sale through an estate agent is that you can enjoy a quick sale that normally takes between four to six weeks. Less costs, less time.
Eradicate the curse of the chain
One of the most common reasons for house sales falling through, just when you think it will go to exchange, is the curse of the property chain. If you use a traditional estate agent for a house sale you have to rely on others not pulling out and the property chain is prone to breaking. In fact it is prone to simply disintegrating in front of your eyes as if it were held in place by thin cotton, which can leave you feeling disorientated and even worse, back in the firing line of repossession. The advantage of selling a property to rent it back is that it does not involve a chain and therefore there is no chance of the sale falling through and leaving everyone dejected and in a state of panic.
Rent back where you belong
A home is a place where you feel safe and secure, even when your finances have left you up a piranha infested creek with no paddle. Life can be stressful, work can be unbearable but when you get home you can enjoy the security that a few bricks and mortar bring and if money woes mean you must sell; why go through the added upheaval of moving when you can simply sell and rent your property back? In many cases it is a bit like making the most out of an unfortunate situation. You don't want to sell but you have to so at least keep some normality in your life by staying where you know.
There are numerous pros to the idea of selling your property and renting it back from stress limitation and financial benefits to not having to break any emotional ties to a property and not having to find a new place to live. The positive effects of this option are undeniable, by even the most cynical, and it may well prove to be a life saving option as the UK property market refuses to look any more attractive to buyers for a long time to come.