Financial hardships can make life miserable. To overcome these hardships it is essential to take the right steps at the right times. Wasting time is the major reason why most people are not able to get out of their troubles.
Although most people opt for loans to overcome their financial crisis, the option of selling properties is also gaining momentum. The reason behind the popularity of this particular option is the facility of getting a big amount of money to resolve all your financial issues.
As mentioned, selling property is a good option but you must keep in mind that it is not easy to sell it quick. That’s exactly the point where you can think about using some sell and rent back schemes. The best thing about these schemes is that sell and rent back industry is expanding with every passing day and it is far easier to sell your home as compared to traditional methods.
However, when it comes to sell and rent back schemes, you must spend some time in learning more about the entire process. It is crucial to get most out of your property sale. By delving more into the details, you will find that sell and rent back is a two part process.
First part is all about finding and selling your home to a Top Marana AZ Realtor property investor. Basically, these companies buy homes from you and offer you somewhere close to 80-85% of the total market value of your home. The reason they endeavor to get homes at discounted price is that they have sell it at a rate less than the market value of your home. But, you become able to sell your home without waiting for a lot of time.
Generally, home buying companies sell your property to another person but not in case you use sell-and-rent-back schemes. The process of rent back is simple again. You will sell your home at a price lesser than market value but you will have to pay a rent according to the market rent for your property. Herein, you will have to sign an agreement called Shorthold Tenancy Agreement. But, do keep in mind that the validity of this agreement is not more than 12 months. You can however make arrangements with the buyer to renew this agreement on its expiry. Moreover, this agreement will also contain the information pertaining to an increase in the rent on yearly basis. Do pay attention to that as well.
The fact of the matter is that sell and rent back is an ideal solution for those people who just need to save their home from repossession. But, there is a complete process that should be understood. On the face of it, the process looks simple but you need the assistance of a professional to deal with the legalities involved in the entire process. So, move forward while paying attention to all finer details.