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If You Are About to Lose Your Home, Read This!
- By Oliver Wingrove
- Published 12/9/2008
- General
Oliver Wingrove
I want to rent back my home. This question could be asked by many homeowners in a variety of situations. One way of making quick house sales to avoid repossession for example, and yet being able to remain in the property is offered by consultant in real estate Oliver Wingrove over at www.sellhousefast.co.uk.
View all articles by Oliver Wingrove
The threat of repossession forces many people to sell their homes so they can meet their mortgage obligations. If you are in this situation, you need to know all your options so you can make the right decision. Don't get pressured into a bad decision that will affect you and your family for years to come. The good news is that you don't have to pack your belongings, you don't have to turn your keys over to a real estate agent and you don't have to take the first offer that comes along. The good news is that you do have a choice. What is the solution? Sell to a company that specializes in rent-back sales.
When you deal with a company that buys to rent back, you still get a quick sale, but you avoid repossession. You can remain in your home and you have the option to buy it back when you can afford it. It is one way of buying more time to work through your financial difficulties, and it is easy to find out if this is the best solution for you. In most cases, more information is just a mouse click away.
Companies that specialize in rent-back sales understand the situation and the need to move quickly. On their website you can fill out a form to provide them with the details they need to evaluate your circumstances. After you have submitted the form, you will usually receive a response within one business day. This response will explain things in more detail and may include a preliminary quote. If the quote is in your ballpark, you can make an appointment to discuss it further in person. The company's representative will meet with you to explain what your monthly rent will be and what your buy-back price would be. Most companies take a flexible approach and will personalize the plan for your unique circumstances.
So entering a sell-to-rent-back agreement is another option, but is it the right option for you? Well, every approach to avoiding repossession has its pluses and minuses and selling to rent back is no exception. Its biggest advantage is that you get to stay in your home while you work through your financial difficulties. Its biggest disadvantage is that you may not get the full market value of your house. Of course, you completely avoid the fees a real estate agent would normally charge, which can be a significant amount, and a real estate agent cannot guarantee a sale, especially in the current housing market. And, if time is of the essence, keep in mind that a sell-to-rent-back agreement is generally processed without two to three weeks.
If you decide that this is your best option, the company will work alongside you to stop repossession, even if you are already in court proceedings. They may even be able to stop eviction if you have already received an eviction notice. Obviously, the quicker you contact them, the better. Everything will be easier if you contact them before you are in serious trouble and, whichever option you choose, the sooner you get the ball rolling, the better.
When you deal with a company that buys to rent back, you still get a quick sale, but you avoid repossession. You can remain in your home and you have the option to buy it back when you can afford it. It is one way of buying more time to work through your financial difficulties, and it is easy to find out if this is the best solution for you. In most cases, more information is just a mouse click away.
Companies that specialize in rent-back sales understand the situation and the need to move quickly. On their website you can fill out a form to provide them with the details they need to evaluate your circumstances. After you have submitted the form, you will usually receive a response within one business day. This response will explain things in more detail and may include a preliminary quote. If the quote is in your ballpark, you can make an appointment to discuss it further in person. The company's representative will meet with you to explain what your monthly rent will be and what your buy-back price would be. Most companies take a flexible approach and will personalize the plan for your unique circumstances.
So entering a sell-to-rent-back agreement is another option, but is it the right option for you? Well, every approach to avoiding repossession has its pluses and minuses and selling to rent back is no exception. Its biggest advantage is that you get to stay in your home while you work through your financial difficulties. Its biggest disadvantage is that you may not get the full market value of your house. Of course, you completely avoid the fees a real estate agent would normally charge, which can be a significant amount, and a real estate agent cannot guarantee a sale, especially in the current housing market. And, if time is of the essence, keep in mind that a sell-to-rent-back agreement is generally processed without two to three weeks.
If you decide that this is your best option, the company will work alongside you to stop repossession, even if you are already in court proceedings. They may even be able to stop eviction if you have already received an eviction notice. Obviously, the quicker you contact them, the better. Everything will be easier if you contact them before you are in serious trouble and, whichever option you choose, the sooner you get the ball rolling, the better.
