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A quick house sale without moving home?

A quick house sale without moving home

A quick house sale without moving home refers to the practise of "sell and rent back". Not heard of it? Here's a quick assessment.

You can't find a sell and rent back arrangement through an estate agent - but have to find a professional cash property buyer like Sell Your House Quick Help. The kind of buyers you'll find through an estate agent  want to buy a home with vacant possession. They're looking for a new home. You want to keep yours.

Chances are if you need a quick house sale the cash from your property is needed to fix some temporary difficulty. Or, you want to free yourself from the stresses of homeownership - at least for a while.

A quick house sale without moving home is not for everyone.

Many homeowners needing a quick property sale do want to move home. But what happens if it would actually suit you better to get a quick house sale without moving home? That's where a sell and rent back arrangement comes in.

Basically a quick house sale without moving home involves selling your property then renting it back on pre-agreed terms. Prior to the sale you will be asked by the property buyer:

- whether your plans to rent are short or long term or whether you're uncertain

- what level of rent you'd find affordable

- whether you have any special requirements such as plans to buy your property back

The vast majority of professional cash buyers offer to rent back your home to you on "competitive" terms - this is often a euphemism for market level rates. As a general rule we don't - but we do need to cover our costs.

Pros and cons of a quick house sale without moving home

There are pros and cons of getting a quick house sale without moving home.

The are probably two main negatives. You lose ownership of your property and and have no share of  the future capital growth. The second is that you become a tenant - with all that this implies. There are good landlords and bad landlords. Dealing with a professional cash property buyer is probably a safer option than your average investor-landlord many of whom  focus on buying properties and want to keep their costs as low as possible.

The merits of a quick house sale without moving home? You'll get to sort your difficulties out and remain in your home. You'll avoid the upheaval of a move and the stressful search for a new home. Perhaps you'd never have sold were it not for your current difficulties. Anyone who feels like they've got their home just the way they like it, perhaps after spending thousands of pounds and years of effort, is likely to feel like this.

Right now, with interest rates rising, its easier to see the benefit of selling and paying rent. Unlike mortgage payments rents do not change when interest rates rise. Rent can be more manageable.

Finally, all rental agreements carry some uncertainty. What happens when the initial agreement expires? This is a very valid concern. If you intend to remain in your home for two years or more, pick your cash buyer wisely. 

What does this mean exactly if you're looking for a quick house sale without moving home? Get all the written assurances you feel you need and let you lawyer see them. Also speak to existing tenants of your cash buyer. Chances are if they're happy, you will be too.

 

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