Have you heard about the sale and stay deal? Yes? No? Well either way, here's a little lecture about the good and the bad sides of the sale and stay deal.
Let's see what sale and stay - benefits and downsides is about. The sale and stay deal is basically a deal by which you sell a property, a house, an apartment or something similar in which you live. When you find a buyer for the place, you sign a deal by which you both agree that the buyer is now the new owner of the place, but you still get you live inside as a tenant. So, let's begin with the sale and stay - benefits and downsides.
First, let's talk about the bad side of the deal. Everyone knows that rich people invest their wealth in real estate. Real estate never loses its worth and it only can be profitable. Knowing this, it's not a smart move to sell a property, but, sometimes people may be forced by some reason to sell, or have some other plans and this is their only way aside from getting loans from banks.
If we talk about the good sides, we can say that there are more than one. First, and of course, the most important - you get a lot of money by selling the property that you can use for whatever reason you need. With that kind of money, you might start an investment that in the future will bring you even more money and you'll buy back your place. People usually put this part in their deals, to be the first ones offered when the property is back on the market.
Another good side is that once you sell the place, you're no longer the owner and this means you're no longer obligated to pay the high taxes to the state, you don't need to do the boring paperwork each year and you're generally free of all this bureaucracy.
Also, knowing that owning a house means a lot of work throughout the year. Taking care of broken pipes, fixing the garden problems, and other stuff. When you sell the house, this is all a job for the new owner. Now they need to take care of all the problems that might occur. Your job is to pay the rent each month and try not to break anything but knowing that you lived there before and everything inside is already yours, you have nothing to worry about.
One of the best parts of the deal is not having to move out. Moving out and moving in is often frustrating and expensive. Making this deal, you don't have to do any of this. Stay at home, pay the rent each month, and you don't even have to tell anyone that you have sold the place.
As you can see, sale and stay - benefits and downsides have way more good parts. If you're in doubt, feel free to do it. It's a good deal.