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Sale And Rent Back

Can I Sell My House And Rent It Back From Ready Steady Sell?

If you are in a financial crisis and are struggling to repay your mortgage, a sale and rent back scheme may be what you need. The sale and Rent back scheme is run by a private firm that includes a broker, a private individual or even a company. This option allows you to sell your home to the firm at a reduced price but you continue living there as a tenant.

Although this may be the only viable solution and last resort to your financial crisis, you need to be very careful before signing up for a sale and rent back scheme, as there are certain risks involved.

Simply put, you need to know exactly what you are getting yourself into and the effect this will have on your housing as well as financial situation in long term. Here are some risks associated with the sale and rent back schemes that you need to know:

  • You will no longer be a homeowner. By signing up for a sale and rent back scheme, you relinquish your rights as a homeowner to the buyer.
  • You may face eviction in the course of your fixe term tenancy in the event that you break rules of the tenancy agreement such as falling behind on the rental payments.
  • The rent could go up either during or after the fixed term of your tenancy.
  • Should the company or person acquiring the property from your run into financial difficulties, the property may be repossessed leaving your with no option but vacate.
  • When you sell your house for a discounted price, this may have an effect on your eligibility of filing for bankruptcy as well as other forms of insolvency.
  • You may be required to leave your home at the end of your fixed term of your tenancy agreement expires.
  • Since selling to a sale and rent back scheme involves selling your home at a discount, you have no option but accept less money than you would if you had sold the property in the open property market.

Ultimately, while sale and rent back schemes may offer reprieve for your financial woes, they expose you to further risks that you may have no control over when and if they arise. Therefore, you need to ensure that you only opt for this when it is the only solution you have left. You may also want to consider alternatives like speaking with your mortgage lender for payment terms that are more flexible, get independent and free debt help online, talk to your creditors, look up for government help if you are eligible and consider selling your home in the open market and finding a different place to rent.

Please Note: The FCA’s decision to regulate the sale and rent back market means that Ready Steady Sell are unable to offer this service. Please read the following links for more information on regulation and how to check if a company is regulated to carry out a sale and rent back.

How does the quick house sale process work with Ready, Steady Sell?

The below guide will give you a further understanding of how our cash buying process works, and whether or not it is going to be suitable for your needs. First and foremost the starting point for any quick house sale application is to get a free initial valuation using our free online tool. Our valuation system uses various information that is freely available online; such as recent property sales, current market climates, area and location, and land registry records.

Along with the details that you provide the system will then make an estimation and give you an indicative offer of what we may pay for you property in cash.

Initial Valuation Stage

This online offer is only indicative, therefore one of our sell house fast experts will contact you to discuss your home sale in more detail, and clear up any questions you may have. The expert will then give you a more accurate valuation over the phone as well as firming up our cash offer. This again is not the final cash price; our advisor hasn’t seen the property therefore can’t give a 100% accurate valuation at this stage. However, due to the experience of our team we are usually very close to what a RICS surveyor would say a property is worth.

If you are still happy at this stage we will then proceed to full valuation. We use RICS to value all properties we consider buying. They are an independent body and the most accurate type of valuation you can get on a property. There is a charge of approximately £150 for this valuation, which we pay.

Formal Offer, Exchange & Completion

Once RICS come back to us with their valuation we will then be at a point where we can make you a formal offer. This offer is presented to you, and if you accept – we simply get contracts drawn up by a solicitor and agree a date to exchange. Some customers want to sell as quickly as possible and we are able to do this being cash buyers. In fact, we can usually complete on a sale in an average of 10 days.

However, if you don’t need to sell that quickly you don’t have to. We can delay the completion date for as long as you need to find your next home or arrange your moving dates.


A Breakdown Of What To Expect From Ready Steady Sell

  • No selling fees to pay
  • Free house valuation by RICS
  • No lengthy contracts to sign
  • No last minute price drops
  • Best industry price match guarantee
  • A quick sale in a time that suits you

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“Ready Steady Sell”, “RSS”, and “” are trading styles of Way of the Website Limited.

Head Office Address: Office 1, Team Valley Business Centre, Team Valley Trading Estate NE11 0QH | Company Registration No: 10041044
We aim to provide you with access to the best possible solution to selling your home quickly. This often means we must pass your details to a third party to assist with your home sale. You are free to opt out of any marketing we do or our partners do at any time.

Disclaimer: We do not provide any financial advice. Ready Steady Sell works with regulated property brokers whom have the ability to purchase your property for cash. Our service is free and you are under no obligation to accept the quotes you receive from our partner companies. You may be contacted by regulated firms that can help you sell your house quickly.