Rent Back : Get Cash and Retain your Residence as Well

By: Derrick Adolfo

Rent back is a feasible way to raise cash during times of financial crunch. When you need money in a jiffy, you can sell your property and then rent it back. This way you get hold of a large amount of cash and also retain residence of your house. This scheme is thus useful when you need to get big cash at quick notice but do not want to vacate your house either.

Rent back scheme helps you when you need to settle your debts, and as such in dire situations such as in the face of threat of repossession. Selling your house can be the immediate solution to ward off this threat. The good thing is despite selling off your house, you can still keep it. You can release the equity in your house which otherwise remains tied up in your property. In any case, if you are going through a rough patch in your life, such as divorce proceedings which is not only emotionally taxing, but also an expensive proposition, this scheme helps you get through it. You can sell your half of the property and then rent it back, if it suits you.

Rent back also proves to be very useful when you plan to emigrate. You can sell your house to gain time to sell your house at a good price and also to help yourself monetarily to make your preparations for the emigration, while you can simply rent back the house, before you move out.

Whenever you plan to avail to the scheme, you can contact a real estate agent who can help you out with their experience. Many of these real estate agents have good websites, and this means you can apply for this scheme online, which means the process would be quicker and easier.

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