Sell Your Home And Live In It - All At The Same Time

Sell Your Home And Live In It - All At The Same Time

Mr and Mrs Harris were blessed with their second baby last week. The family was so overwhelmed by the arrival of the new member that they decided to buy a new bigger family house. Their decision was quite logical as well because with an additional member they were surely going to need more space. Affordability would not be a limitation for them as long as they sold off their present home. But the limitation was moving into their new home immediately after they had bought it. They wanted to finish the interiors before they had moved in. Considering a plan of moving into a new rented apartment looked too much of a challenge for them with the baby

So, Mr. Harris wanted to look for schemes which would allow him to stay in his own home even after he had sold it i.e. a "sell and rent back scheme". These schemes are perfectly tailored to suit your needs. You are allowed to stay in your own home even after you have sold it off for a rent agreed upon by the buyer and the seller.

Well, there can be numerous reasons a person can opt for this scheme. It is often seen that a major part of a person's investment/liquid cash is locked up in their real estate which might well be used for other purposes. Again major sections of the population buy their home by borrowing off the banks but in the long run are unable to pay their regular mortgages. Such schemes help them to release the cash locked up in the investment, repay back their loan to avoid repossession of the property as well as retain the house they had bought for a rent agreed upon by both the parties.

The seller of the property has no hassles as of getting solicitors or paying estate agents any commissions. The legal dealings are taken care of by the buyers. The "sell and rent back" agreement is generally framed for a minimum of 5 years on the expiry of which it can either be renewed by mutual consent of both the parties or the tenants have to leave the house. The added advantage to the scheme is that the entire process is completed within 3-4 weeks of initiation.

While staying as tenants they have to take care of the daily maintenance and monthly bills as is the case with all regular tenants. The best part about the scheme is that if you can gather enough financial resources by the end of the tenancy period they can even buy back their property

So, the next time you want to sell your house and stay in it at the same time, do not panic. Instead plan a rent back scheme.Its hassle-free and reaps quick money. sell house fast

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