The easiest way to sell your home is to instruct a local estate agent to put it on the market. However the property market is very slow due to the recession and sales can take up to six months or even longer. If you need a fast sale this won't be appropriate. After months of drawn out sales procedures a sale is still not guaranteed at the end of it. Buyers can pull out at the last minute, and one third of estate agents fall through.
If you need to relocate fast and don't have time to wait, then it may be wise to sell to a private investor or property company. This should ensure a quick sale.
But what if you don't want to move? Perhaps you are trying to stop a repossession or have problems paying the mortgage? Perhaps you only want to resolve the financial problem and want to stay where you are?
Now you can sell and rent back your home with a regulated Sale and Rent Back firm. A regulated firm can buy your property and rent it back to you for a minimum of 5 years so that you can solve a financial problem without the disruption of moving home.
A house sell and rent back scheme may not be for everyone but for some it is a very good option. Sale and Rent Back firms work with mortgage lenders and the courts to ensure the sale goes smoothly and stop a repossession. To rent back your home you can get advice from independent advisers and find the best Sale and Rent Back offer available.
When you sell and rent back your home you avoid the fees associated with repossession and eviction. You also avoid unnecessary disruption to your family and your rent is most often going to be cheaper than your mortgage payments were. A house sell and rent back scheme means that you have a reputable Landlord that deals with maintenance and repairs quickly. Some firms also allow you to buy back your property when you later get back on your feet.
So to summarise, if you need to sell your home, the options available to you are:
1. Sell through an estate agent if you have ample time and can risk a sale falling through.
2. Sell to an investor or property company.
3. Sell to a Sale and Rent Back firm and rent back your home for five years.