Selling my house and renting it back.

penguinSmall

Have you tried talking to someone at Welfare Rights? Or even Shelter as your folks will be homeless if they lose the house? Sorry I can't offer more help but I've been given so much advice myself and a lot of it has turned out to be wrong, I'd hate to steer you down the wrong road.
As for trying to keep your family afloat dude, I know how that one feels. Best of luck to you all.

suelongman

suelongman wrote: »

hi only just aloud back on computor as son has gone to school. read your post are you happy with your arragment is the rent high and if you dont mind who did you go with you might have to answer this in a private message not sure althogh i am sure there might be a few peeeople interested

well i have sold my house , to some one who is renting it back yo ne .i cannot tell you the relefe that i felt when this all went through it is a gamble but the people that i have sold to are not a big company and they seem very nice.ok so some might say they would be because they have just got property very cheap. well that is the way the cookie crumbles in this day and age.you win some and you lose some only time will tell, i have lived here for 30years and i had no other option but to do this, if i whanted to syay here.:eek:

doccer1967

do companies do the purchase and rent back or are they individuals bailing out others, then charging rent. If the latter is the case what are the potential downsides for the investor?

kingkano

I think companies basically act as agents for individual investors. They are the point of contact for finding the properties etc, the investors put the money in and agree the terms. Then they own the property I guess.

The UPSIDE for the investor - a property at well below market value (75-85% seems most common offer). If its somebody who wants to rent it back even better, you get rental income immediately, from the person who use to own the house - which means they might care for it more than a regular tenant.

The downsides I guess are the same as any property investment and renting. The tenant might go bad, property market might drop, etc etc. But they are on a headstart already having paid quite a bit below the real market value (ie a bargain).