Jul
17
17/07/2009
In this first of 2 articles about Sell and Rent back FAQ's, we've compiled our most frequetly asked Sell to Rent questions. The next Sell and Rent back FAQ article will folllow next week.
Q. To sell and rent back my house, do I need a solicitor and who pays for all the costly legal fees?
A. With Property Rescue, they arrange the solicitor and pays for all the associated fees for sell to rent. There are NO LEGAL FEES and you won’t be left with a huge bill when your sale is complete.
Q. For sell and rent back, how much does the valuation cost and do I pay a fee to Property Rescue as the selling agent?
A. There is NO VALUATION FEE and NO AGENTS FEE when you sell and rent back through Property Rescue. The price we quote for your property is the amount you will receive, once your loans have been repaid.
Q. Who are the Financial Services Authority and how does it affect sell to rent?
A. The FSA are the independent watchdog that regulates financial services and from 1st July 2009, they now regulate the Sell Rent Back industry too. We are fully supportive of their involvement and have appplied to carry out acting as a Sales and Rent back provider (buyer); administer Sale and Rent Back contracts; provide advice on Sale and Rent Back transactions; and arrange Sale and Rent back transactions.
Q. What sort of offer will you make for my property?
A. That will depend on the location, type and condition of your home. Our sell to rent offer will be a percentage below the market value, but the price we offer is exactly what you will get once your mortgage and loans have been repaid – with no deductions! Think how much you would be likely to pay in estate agent, legal and mortgage fees if you were to sell your home privately (let alone the length of time that would take) and you will find Property Rescue’s sell to rent offer to be very attractive.
1 comment(s) so far...
Re: Sell and Rent Back FAQs
How long do you get to live in your property after renting back has been completed and can my property then be sold to another lender wo does not want to have tenants in their property?
By Audrey on
21/07/2009
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