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Sell And Rent Back Property
Appreciating that information is key to making a decision as to whether to sell your home and rent it back, Land Property Finder have put together some of the most frequently asked, sell and rent back questions (FAQ's) about sell to rent.
In addition to offering home owners a practical solution to raising equity and clearing debt, a sell and rent back property scheme can stop repossession, assist with relocation issues, divorce, separation and much more.
What Is Sell And Rent Back?
Sell and rent back is a concept whereby an FSA approved, cash buying property company can buy your home very quickly and then rent the property back to you so you don't have to move out. The sell and rent back property scheme is usually favoured by home owners who want to achieve a quick cash sale/equity release in a matter of days/weeks as opposed to months. Learn more about what sell and rent back is, here.
Why Sell And Rent Back Your Home?
Through no fault of their own, some people find themselves in severe financial hardship brought about by factors such as being made redundant, divorce and separation, death, relocation, a pressing need to sell and rent back clear mortgage, or just because they need to release equity from their home but without having to move out upon selling. A sell to rent back property scheme can prove the perfect solution in these and numerous other situations.
Sell and rent back is often referred to in numerous other ways but they all mean the same thing. These include: sell and rent back property, sell rent back your home, sell house and rent back, sell to rent, selling to rent, sell2rent etc.,
The Financial Services Authority (FSA) is an independent, financial body responsible for regulating financial services. Since 2009, the FSA introduced new measures to regulate the sell and rent back property market (SARB) and the companies providing sell to rent services. It is against the law for an individual or company to provide this service without being FSA approved to do so. Clarify with any sell and rent back company that they are in fact registered with the FSA and the extent of any FSA compensation scheme should the company be unable to meet its obligations to you the seller.
While some sale and rent back companies might operate regionally, the vast majority of sell and rent back property companies will operate across the UK. How Confidential Is It When You Sell Your Home Rent It
Sell & rent back companies are professionals and will therefore treat your transaction with the utmost discretion. No one will need know that you are selling your home and renting it back. There are no for sale or sold boards erected. Further more there is no need to advertise your property for rent or sale as you will still be living in it.
Can I Sell My Property Quickly Without Renting It Back?
Yes, sell and rent back property companies will also buy properties from sellers who do not want the rent back scheme. Learn more about how you can sell property quickly without renting back.
What Is The Timescale To Sell House And Rent Back?
Land Property Finder have a network of sell house and rent back companies who can make you a cash offer within 7 days. Some companies can even do this in as little as a day, enabling you to sell rent back your home relatively quickly.
Sell Your Home Rent It Costs?
Most sell & rent back property companies do not charge any fees for providing their services. Always check with the company. Typical costs you will not need to pay when you sell & rent back property include, valuation, legal costs, estate agency fees.
With a sell house and rent back scheme, you will be entering into a legally binding undertaking and for which you will need to be represented by a solicitor. Most sell house and rent back schemes will pay all or a percentage of your legal fees. However, for ease and in nearly all cases, sell and rent back property companies will waive your legal costs if you opt to use one of their recommended solicitors. This can speed up the completion process through to a very quick property sale.
Do I Need A Home Information Pack With Sell To Rent?
A Home Information Pack is not necessary, since a sell & rent back property transaction is viewed as a private sale by owner to a buyer as opposed to being marketed by estate agents.
Who Will Manage The Rent Back Property?
When you sell and rent back your home, the company assume all responsibility for maintainance and repairs. They are also required in law to ensure an annual gas and electrical safety checks are carried out by approved engineers. Who Is Responsible For Buildings/Contents Insurance?
As the new owners, it is the sole responsibility of the sell and rent back company to fund and pay for the buildings insurance. You as the tenant however, will still be responsible for your own contents insurance.
It is unethical for any representative of a sell and rent back property company to pressurise a seller, either directly or indirectly, using tactics such as tight timescale offer acceptance etc.,
What you should expect, is a Free, no obligation valuation along with a cash offer for your property and a no-hassle period to consider any cash offer the company has made.
You might be interested in the following sell and rent back articles:
What Is Sell And Rent Back?
Why Sell And Rent Back?
How Does 'Sell Rent Back Your Home Schemes Work
I Need To Sell Sell My House Fast To Release Equity
Do you own well-located land and property? Land Property Finder want to hear from you! We can help you attain the best value for your land, via our network of professional developers, land buyers and self-builders.
Simply complete the FREE no obligation land selling enquiry form. Alternatively, you may call us if you prefer (local rates apply) on:
The content on this site is purely for information purposes only and is not intended to replace your seeking professional financial and legal advice from regulated professionals before you make any land and property investment decisions. You must always carry out your own research and due diligence on any land or property you intend purchasing from any third party. Please note, we are not estate agents. We simply put you in contact with sellers/buyers Return From Sell And Rent Back Property To Land Property Finder Home Page
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