Many people choosing the new option to sell and rent back their own home property are unaware of the many drawbacks that the option has. On the outside, selling your home and renting it back looks quite easy and simple – sell your home to make enough money to pay off all of your debts, get your finances in order, and still get to live in your own house without the hassle of moving anywhere. What could be more simple? However, to sell and rent back has many down sides, that not everyone is aware of when they rush into the option.

The biggest drawback is the fact that home owners sell their property to the sell and rent back firms at a large lost in comparison to its true value.. The bad thing is it means they are losing large sums of money which could have been used in so many ways. Because the sell and rent back companies As most of the people wishing to sell their house have had no luck selling elsewhere they become desperate same for those who large amounts of money. In ideal world using an estate agent such huge loses do not happen as often as they do in the fast sales world. The sell and rent back companies for sure target those home owners who are struggling to keep up with the costs of owning their house, and this is why they get away with being able to offer ridiculously low prices, as the people who go to sell and rent back firms often are desperate to get their hands on a large sum of money.

The way in which the sell and rent back companies offer often widely varies from one company to another. As for the companies that have been in the business for many years try to keep up their reputation but others are just out to rip off as many people as possible Take steps to know all you can about the company if sell and rent back is an option that you are looking into, go with a reputable company if at all possible. A good choice is a company who offers flexible rent terms over a long period of time as well as a fixed rate as you could find yourself being charged astronomically high rent further down the line, or the tenancy agreement you have with the sell and rent back company just falling through altogether. It has happen that people have not taken this point into consideration only to happy to get a little bit of money at their disposal but before they know it a year has passed and that was their rent back condition they before long they are out on the street.

Many of the sell and rent back companies only keep your property for a short time before they sell it to someone else in order to make a bigger profit. If this happens, then the sell and rent back company then has nothing to do with your home, and your home is the sole responsibility of the new landlord, meaning that landlord can sell your house, or become bankrupt as a result of this you would no longer be able to live there.

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