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selling and renting back
jamesy224
Posts: 5 Forumite
Please can someone offer some advice on selling my property and renting it back.My house is due to be repossessed and i really don`t want to move.My husband is out of work due to a range of medical problems and we can`t afford to keep the mortgage going anymore.We have seen adverts for companies offering to buy your house and renting back to you,but you hear so many horror stories about what happened to other people.If anyone can offer any advice i would be very grateful.
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Comments
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you would be better off putting it on the market at less than its true value and selling it yourself.
These companies will offer you about 70% of its market value. Is that enough to clear the mortgage and secured debts?
Allthough they will tell you that you can live there as long as you want, the only guarantee you will have is a 12 month AST.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
70% of their assessment of its market value, to boot. Much better to reduce the price yourself and get a quick sale. These sell and rent back companies are currently being investigated by the FSA for dodgy business practices.These companies will offer you about 70% of its market value.poppy100
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