If you are facing a financial crunch and need to quickly dispose off your property to get some cash then it is a good idea to have your paperwork before you approach a real estate broker.
This will allow you to use the market information provided by the broker to make a speedy and informed decision and allow you to quickly sell property for the best price. Most homeowners refrain from selling their homes quickly because they are unprepared and ill-informed.
Quick home sale is not an unheard of phenomenon, in fact it is very much a reality as more and more homeowners are coming under the repossession gauntlet.
Discretion in Sell and Rent Back Agreement
However if you want to stop repossession of your home then it is a very good idea to approach brokers to sell your home and rent it back to you.
Some companies are trained and experienced in these agreements. So if you have your paperwork ready they can actually liquidate your asset within 5 to 10 working days. Since the payment is made in cash this strategy will allow you to use the equity on your home to get out of debt.
If you’re selling to stop repossession of your home and intend to sign a sell and rent back agreement then no one in your neighborhood will even know that your property has been sold.
You can sell the home at fair market value and enter into a rental lease with the new title owner. Of course you will be responsible for paying utility bills and council taxes as applicable on the property. However, all structural maintenance and repairs will be the onus of the landlord.
Why Are Sell and Buyback Agreements Popular
When you choose a reliable broker you can rest assured that you will get hold of the money within a day or two of the sale. Another important aspect of indulging in the sale with reputable broker is that there are no middlemen and the cache is released quickly. In fact you should try and get a banker’s check for the amount due towards you. Brokers experienced in this type of sale have many buyers approaching them for this kind of property.
If you think of it on the flipside and consider buying a home as an investment and want to rent it out, wouldn’t you prefer going to broker who could manage both things simultaneously? This is the reason why sell and rent back agreements seem to be very popular in the real estate industry.
A good broker will never give you an offhand market value for your property. Instead they will assess and evaluate the actual value of your home before committing to a price.
Quick house sale is easy to manage when you sign up with the reputable brokers in your county. Make sure that you clarify what fees are applicable. In general you should not incur any expense while selling your property. The broker is actually responsible for paying the assessment and surveying cost to the solicitors and should charge the buyer for his commission. The final value of the house decided with you should be the actual amount that you receive in your account.