How does the Sell and Rent Back Solution Work?
One of the best attributes of a sell and rent back scheme
is valuing your home and putting an offer in for cash that is a little
less than full market value. If you accept the offer a quick sale
arrangement may be done for your convenience. Contracts can be
exchanged normally within three to four weeks, but can be shorter if
needed be the case. With respect to the rental side, a rental agreement
is raised that enables you to remain in your home as a tenant. The
terms are flexible to your situation, and the amount you pay each month
can be adjusted to make it affordable for you. Once all the details are
ironed out, and the transaction completed, you receive a cash lump sum
with which to pay off your mortgage and other debts secured against the
property. The equity left over is then yours.
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