Sale And Rent Back Schemes
If you're looking for a fast lump sum in your pocket for whatever reason you might need, then you probably already heard about the sale and rent back schemes that are very popular in Australia. If you haven't, this is the place you'll learn more about it.
If you have a house or other property on your name and you want to make it profitable or make money out of it, then you can, of course, sell it. But, if you sell your own home, then you're left without a place to live. That's why many people are choosing some of the sale and rent back schemes - they are an easy way to make money, yet, without the need to move out and have additional expenses and problems.
To make a sell and rent back you need to watch for several important things. First, you need to make a good deal with the buyer about the price of your house. it's always a good idea to hire an agent that will find a buyer who'll offer a good price. Remember that you're not making a simple sale, so it will be harder to find the best deal. Sometimes the value of your home might be hard to reach and you'll be forced to sell it for a lower price, but if you hire an agent, you might make even a better deal and get a deal that's even better than the expected amount.
Then, you need to look closely for the agreement and everything that's written in it. If you're trying to make a sell and rent deal you need to be sure that the new owner will let you stay as a tenant in your house on terms that you'll both agree on. This means that you want to sign a deal in which you'll stay at your house as long as possible. The best for you is to sign a deal for an unlimited time, but be sure that the buyer will not like this idea, so you'll have to negotiate to what's best for both parties.
If you're asking yourself if this is a good idea then you should know what you're getting and what's the negative side of it. Having a large house that's valued to a lot of money is great, but if you have needs in your life that are expensive than there's no need to keep your house locked and your money frozen. Let's say you have children and they all plan to move out but none of you can afford their own home. You can use the sale and rent back schemes to provide a home for everyone by selling and staying in your own house and use the money to buy two smaller condos or apartments for your children.
Basically, this is an excellent way to get a large amount of money without dealing with banks and loans. You sell your home, pay monthly rent to live in your own place and end up with a bunch of money in your pocket.