In Australia, there are many ways to get a large amount of money fast, but they involve banks and loans. A lot of people simply don't like banks and some of them are frequently asking themselves if they should find another way to get a lump sum that will help them solve their problems. Among other things, one of the most popular ways to get a lot of money without involving the banks is the sell and stay deal. But is this deal good? Should you sell and stay?
Should you sell and stay is a great question because if you don't know the benefits of this deal and you need money, you're missing a lot. The sell and stay deal is a standard sell of a property agreement with a couple of points that makes this deal so great and popular. In order to make this deal, of course, you need to have some kind of property and sell it. A house, an apartment, a flat or building, it doesn't matter, the important part is to have it and sell it. Once you place it on the market and a buyer comes up, you need to agree about the terms. Basically, you and the buyer agree that you'll sell the property, but the new owner will be obligated to let you use the place like you used to before for a certain amount of money. You actually become a tenant and the new owner is your landlord. You pay a certain amount each month as a rent, but you end up with a lot of money from the sale. But why is this really a good deal?
The beauty is in the little things. The little things like not having to move out from your own place and start a search for a new place to live which can be very frustrating. It can also be a real money waster as the process itself takes a lot of time and energy. This means money too. And when you find another place to live, then you need to spend even more money on moving and even more, energy getting through the whole process which is completely exhausting.
Another thing that's very important is that once you sell your place, you have no more obligations regarding taxes, bureaucracy, filling up forms and talking to Government administrative that always seems to have a better job than fixing your problem. Not mentioning that having a property means a lot of money for taxes, but taking care of a house or an apartment is also something that draws from the pocket. When you sell, you have no more problems of this kind.
It's important to agree on all the details with the new owner before you sign the deal. There is no fixed deal when it comes to sell and stay, you just need to know - should you sell and stay - and then just find the right buyer and make the best possible agreement.