Sell and rent back companies purchased your property at 70-80% less than market cost and rent it back to you at market rate. Homeowner can use their cash to settle all their debts.
Process:
This type of offers generally offered by quick sale companies.
Company evaluates actual market value of property.
They look at the rent of similar properties.
After that they offer cash with rent back option.
You will receive cash very fast at no cost.
Circumstances when some one chooses this service:
No Body want to sell their property below market cost but financial circumstances force people to do that. One who is facing large debt can find it an easy way to solve all financial problems. Your financial position will be hidden from your relatives. Your family can stay in the same home. Life will be running as before.
Disadvantages:
This type of service is unregulated and companies are free to set the property price and rent. Sell and rent back scheme use only by those people who are in bad circumstances so most companies use their bad circumstances and try to low down their property price. Many times people have to sell their home at bargain price because of eviction.
Sell And Rent Back