December 25th, 2009
sell your houes fast?
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Filed under: Sell Property
I haven’t used this but i have heard of people doing it, it sounds the answer to all your problems and maybe it is but remember if you sell then rent your property the new owners/landlord can throw you out at anytime plus if the company goes out of business maybe the new owners wouldn’t want to rent the home to you. Plus would you get what your property is really worth or a reduced rate for a quick sell. Lots to think about.
I was told the other day that this is now illegal…
Sorry to say but this is illegal.
Yes it is a scam and a few sites have been closed down others forced to change there adverts.
The biggest drawback is that homeowners are selling their property for less than it is worth and will then end up paying the equivalent of the new owner’s mortgage.
Sale-and-rent-back and quick sale companies deal with those needing to settle debts, swiftly relocate, avoid a property chain breakdown, or who have below-par homes that are difficult to sell. These all help companies to negotiate with sellers and drive down the price.
The quality of service from sale-and-rent-back firms can differ widely, with some more established operators seeking to protect their reputations but others simply out to make a quick buck. The services are unregulated and most offer no security in terms of long-term tenancy or rent levels.
In the worst case scenario, a previous owner could find themselves evicted at the end of a six or 12-month assured shorthold tenancy having sold their home for a bargain price.