Rent Back : Retain your Rights to Stay Back in your Sold House

By: Derrick Adolfo

If you are plagued by debts or financial hardships, and you need a quick resolution, one among the best options to resolve the situation is to sell your house fast. And with the rent-back scheme, you also do not need to leave your house just because it is sold.

The special real estate agencies that provide these special services are available online. You can contact them and find yourself having accessed quick cash to save you from the 'debt-trap'.

However, once you have the cash, there is likely to be another problem. You would have to vacate the house as it is sold to another. You are no more the legal owner. Well, not really, since with the 'sell and rent-back' scheme, you can remain in the house you have sold, at a rent which is lesser than the market price or at a rent lesser than the mortgage payments incurred on you every month.

In fact, the rent-back arrangement can continue for as long as you like as you can set your time frame for which you wish to stay in the house. As and when your financial situation improves, you even retain the option of buying your house back. As convenient and fair as that.

Another situation where this scheme serves a good purpose is when you are planning to migrate, say to another country. In such an event, you may have plans to sell the house in a predetermined period, so that you get the cash required to serve your new plans as you migrate. Availing to the scheme, you can sell your house in the short time, as feasible to you, and rent it till the time that you are ready to move out. For all this, contact the special service agencies: they will help you out.

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