Sell And Rent Back to Make The Best of Your Property
When you're facing a debt or you need money to make some investment you think it will pay of n the long run, but you have no cash to do what you have planned, you have a great option called sell and rent back.
Sell and rent back is great for many reasons. First of all, it is a great way to avoid dealing with banks and still get a lump sum in your pocket. Sure, if you go to a bank you'll get the money you need in no time. It is probably the fastest and the easiest way to get a lot of money fast, but the terms the banks will offer you are almost always disastrous.
So, if you want to get money without having bank problems, you should do this option. Selling your place and renting it back is an option that many people in Australia and around the world practice because of its great deal. How does it work? The house, apartment, or any other property you have and you use at the moment can be sold to a person or a company. When you reach an agreement, the buyer gives you the money that you can use the way you want it, but you will pay rent to the new landlord each month.
This deal leaves you without property that you previously owned. Some might say that this is not a smart move, but if you think about it, it really is. If you need money, then selling is the best option because having a property with a great value that you can't get use of is simply having nothing. On top of it, you get to continue using it like it's still yours. If it is a house, you can still live in it, have a lot of money to use it for whatever you need, and you don't even need to move out of the place. If it's a debt you need to pay, no one will even know that you had money problems because no one except you and the new owner will know that you sold the house.
Another great thing about it is that you don't need to worry anymore about paperwork, paying taxes and all the legal matter. This is something that is no problem for some people, but not everyone is the same.
When you make the deal with the buyer, you should have in mind some things aside from the standard deal issues like the amount of the sale and the rent. You should get to stay at your place for at least 6 months. After that, the buyer can ask you to move out. Also, you should be the first to be asked if you want to buy back the house if the new owner places it back on the selling market. The sell and rent back deal is excellent, you should just know well what you get and what you lose.