Setting up a Rent to Buy arrangement with a professional company or a Tenant Buyer is particularly good for people who are currently in negative equity. Our definition of negative equity is when the mortgage on your property exceeds the open market value that you would achieve if you sold it today.
If you did try to sell your property immediately not only would you have the expenses that are connected with the full sale of the property, you would also have to find the money to pay off the balance of the mortgage once you’ve received all of the sale proceeds of which may come into many thousands of pounds.
A Rent to Buy agreement would allow you to agree to price in the future that would pay off all of your current mortgage and for you to receive a higher revenue income from the Tenant Buyer. You would become a Landlord Seller who would still own the property during the period that you have offered an option to the Tenant Buyer but because they are intending to purchase the property they would treat the property as though they are the owner from day one.
This means that you have a tenancy without most of the usual management problems because you agree in advance all of the maintenance tasks that they will take care of. The other benefit is that once you have your Rent to Buy agreement in place and a Tenant Buyer you’ll be free to move on to a new home or a new life depending on your personal circumstances.
At “WeRentToBuy.co.uk” We offer you even more freedom, flexibility and peace of mind. We will organize all of the documentation, paperwork, negotiations, property management and organise the eventual sale to the Tenant Buyer. This way all you have to do is to supply us with all of the property information and we will take care of all of the details, find the Tenant Buyer, make any payments to you and be responsible to look after the property throughout the option term.