subject: No One Minds Living in Their Houses Even After Selling Them Off [print this page] No One Minds Living in Their Houses Even After Selling Them Off
The recent financial recession has dampened the spirits of each and every market. Employers have been retrenching mass workforce, share brokers have lost interest in shares, car dealers complain a drop in their sale, the shopping malls have far less customers than they used to, and numerous newly built houses remain unsold. The real estate agents have a scarcity of buyers. With no rays of hope of improvement in these dampened conditions loads of Brits are considering the option of moving out of UK to explore greener pastures.
But the decision to move out of your country is not at all an easy task to implement. There are numerous issues to be taken care of; a few examples include selling off your properties (home, cars, furnitures etc), closing of all financial dealings and accounts, settling all pending legal matters etc.But this is not all. Moving abroad without a definite job is impossible. It is THE most important fact to look into before moving out of the country. Analysing the market abroad will also require ample financial backup
So, in a nutshell the points to be focused upon are:
Looking for good jobs and settlement options abroad.
Having sufficient personal funds to support a thorough study of the situations abroad.
Disposing off your liabilities at home
Settling all pending legal matters and closing of bank accounts etc.
All the above points have to be taken care of simultaneously. You can't wait to sell off your house or cars after you have a job abroad. That will waste time. If you can't wrap them up in stipulated time, you will be trapped in your own web. Again, selling off your properties and moving out of your house with bag and baggage much before you have an offer letter in hand will make you look like a fool. So, the most ideal deal will be to take your time to sell your property as well as retain it till you are ready to taste a different lifestyle altogether.
The most appropriate deal in such situations is a "sell and rent back" scheme. It is a simple scheme designed to help people in situations where they need to release themselves from the liabilities of their properties along with the allowance of staying in it at the same time.
Under these schemes the buyer takes care of all the legal dealings. The seller is free of all responsibilities of getting a solicitor, settling up the deal etc. If you want to sell and rent back your property you simply need to tell that to your buyer/ agency. A rent will be decided upon by mutual consent of both the parties and a tenancy deed will be drawn stating the duration of the tenancy period which is renewable only by the consent of the owners. These deals have the advantage of paying quick cash thereby releasing the finance locked up in the property. With the money you can take care of all the pending matters (paying mortgages, settling legal matters, exploring and settling abroad etc) which were held up due to the scarcity of finances. It gives you monetary freedom and at the same time you can remain in your own house till you don't have all other settlements wrapped up.
As tenants, your only responsibility will be to take care of the daily maintenance and paying the monthly bills. You have to keep the place clean and intact like all regular tenants as it belongs to a different owner now.
So, proceed to your new horizons and a better lifestyle with a carefree mind.
