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releasing equity eg; selling & renting back
mickymouse1
Posts: 1 Newbie
Hi
First time for everything. Has any body sold and rented the property back. I need to release my equity. I've tried to sell. On the market for 12 months and only 3 viewers. It's not that it's a bad house or area,(three bedroomed detached one bath room with conservitory and garage etc.).
First time for everything. Has any body sold and rented the property back. I need to release my equity. I've tried to sell. On the market for 12 months and only 3 viewers. It's not that it's a bad house or area,(three bedroomed detached one bath room with conservitory and garage etc.).
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Comments
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DROP THE PRICEBankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0
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You'll get about 50% of the market value as you see it now.
You do better lowering your price.0 -
My Wifes Aunt Done A Sell Back Last Year...she Has Just Been Given Two Months To Get Out...It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
fraught with difficulties, you sell, then rent, they default on the mortgage and your out!!!make the most of it, we are only here for the weekend.
and we will never, ever return.0 -
rightmove link?mickymouse1 wrote: »Hi
First time for everything. Has any body sold and rented the property back. I need to release my equity. I've tried to sell. On the market for 12 months and only 3 viewers. It's not that it's a bad house or area,(three bedroomed detached one bath room with conservitory and garage etc.).0 -
Hiya welcome to MSE
there are a whole host of problems with selling and renting back, as geoff says, the tenure can be very dodgy indeed, and the difficulty can further arise if you have a poor credit record and will find it difficult to rent in the private sector.
Why do you need to sell now? Are you having to move for work? Is it debt problems? Trying to downsize to save money on bills?
the more info you give us the more we can help.
3 viewers in 12 months, suggests v crap photos, v crap EA or very overpriced.
12 months ago, anoraks on here were talking about problems in the economy, but it was only jsut starting to effect the "real world" and viewings were happening much more 1 year ago.
If you could let us see the rightmove link, maybe we could see if there are any glaring problems with it.:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0
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