Sell and Stay Concept Launched in Canada

Recently the Sell and Stay technique has been gained notoriety outside of Australia, with people in Toronto Canada now able to apply the program to their needs. Such opportunity was recently highlighted by CBC News Toronto, of whom noted many of the benefits of entering into a Sell and Stay arrangement with trusted buyers.

As in Australia, many of the benefits remain the same, with the seller being able to stay in their home following its sale, paying of a lower rate as they would have under a mortgage type arrangement with the bank, and the removal of tax liabilities associated with home ownership. All of these influences have provided sellers more freedom to make sound financial decisions during their retirement years, which in many cases enables them to make purchases to improve their quality of life.

The Sell and Stay concept was developed and subsequently applied to shield home owners from having to enter into costly reverse mortgage arrangements that charge interest on such arrangements, as well the typical associated fees. More information on how the Canadian Sell and Stay concept works can be found in this CBC News article.