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Sell Your House Today And Have The Option To Rent Back And Buy Back Your Property At Affordable Market Price - Absolutely No Risk To You
By admin | January 31, 2008
The rent back company can offer you the ability to buy back the property when your situation improves. The rent back and buy back option could be ideal if you are experiencing short-term difficulties and do not want to lose your property.
The rent back company will agree the price at which you can buy it back at the beginning. The price agreed typically is fixed for two or three years and then goes up by at about 5 per cent each year.
For example, if the rent back company agree you can buy back the property at 100k at the end of the initial two year period of renting the property, then:
The price we will sell it to you after 2 years is 100k
The price we will sell it to you after 3 years is 105k
The rent back company are committed to selling the property back to you at the price agreed even if the property market appreciates more than they expected. In the above example the property could be worth 110k+ at the time you buy it back at 100k.
At the end of the rent back period, and when selling the property back to you, the rent back company will arrange for the sale to cost you much less capital than usually needed. For example, in the above scenario, if they were selling the house at 100k back to you and the house is genuinely worth more than 100k the company’s solicitors can structure the sale in such a way where you end up paying us 100k but get all your fees paid for as well as the stamp duty and part of your deposit. Thus, you can acquire the property back from the company at a much lower cost than usual.
Topics: Business |