Extract From Property Sales 2008

Increasing numbers of people are finding that sell and rent back is a workable solution.  

Severe financial difficulty can put you in a position where you may be under threat of repossession. Even a small problem with controlling your money can quickly grow into something more serious and, whether you are on your own or have a family, you want to avoid the trauma and long-lasting effects of losing your home.

A solution is called sell and rent back, and more and more companies are offering this as a means of avoiding the ultimate horror, repossession. These companies can help you to realise the cash in your property far more quickly than a traditional estate agent. There are a number of benefits when you sell your house fast for cash, which include:

No chain – selling through a traditional estate agent usually involves a chain of some sort. Unlucky sellers can encounter real problems if the chain breaks, and there’s no guarantee that the sale will go through until the completion papers are signed. For this reason, even if you accept an offer on your home fairly quickly, it can take anywhere from three to twelve months to sell your home – by which time your debts may have been called in and repossession has become a reality

No fees – the money you have to pay an estate agent to sell your home, plus the costs of the necessary legal work soon mount up. The longer it takes to sell your home and the more complications you have, the more it costs. In contrast, the sell and rent back process carries no fees and can complete in as little as three weeks.

Rent back – being forced out of your home is extremely stressful, and most people would grab any opportunity to stay put. Sell and rent back schemes allow you to do just that. Selling your house fast via Switch can be combined with an agreement for you to stay in the home on a long term tenancy agreement , paying a fair monthly rental.