Guest Ellie

Do we sell to an agent?

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    Guest Ellie

    Has anyone looked into these companies that buy your house and you rent it back? We were wondering that as these seem to be so popular in the yellow pages to help avoid the high influx of repossesions if it would be a good option with the current slump in the market. Surely if it works as they say no one would no any different as you would still be in your home, equity would be in the bank ready to go and you would only need to give notice to leave once the visas are granted. Or am I missing the catch? :unsure:

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    I think the "catch" is that they won't give you the full market value of your home. So if your house is worth a hundred and fifty grand say, they'll only give you a hundred grand maybe. Never really looked into it but I think that's how it goes. Definitely not a good idea.

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    Guest katsmajic

    Hi, my mum just looked into this and they are conning gits..

    they offered her £80k less than value price and rent would have been £915 per month!

    Total rip off, i cant believe its legal!

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    Guest Trakki

    We have looked at this and as the market is so bad they are offering 60-70% now rather than 80-85%. Our house is on market for £145000 and they offered us £91000. So no go!! Still worth looking into for yourselves but the investers are having trouble getting the funding themselves. Also the rent backs seem to have a certain length of time that you have to rent back for ie 2-3 years so this would probably not be any good.

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    Guest caoimhe

    At the end of the day these are shrewd investors so you can guartanee they won't be the one's to lose out :skeptical:

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    Guest Sharron & Andrew

    Have heard about some of these companies on the news. They have bought houses from people at knock down prices and then a few months down the line sold them with little or no notice (small print in the lease documents) leaving people with no home! I'm not saying that all of the companies out there are like this, but I would be very careful.

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    Guest Maddisons

    Hi

     

    Personally i would stay clear of agents.But that purely depends on your financial situations.

    Good luck with your decision.

     

    ja and paula

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    Guest Ellie

    Well I think reading everyones opinion I will definately knock that idea on the head!! Thank you all for your advice. I love this site it's so nice to know you are not on your own with it all. Our financial situation was ok but getting dire at the moment. We are getting married in 5 weeks and Max is out of work. He must have made 50 phone calls over the last week and nothing! Oz screaming for Brickies so I suppose I was looking for a quick sale so to speak so when we get the visas WE CAN GET OUT OF HERE!!!!!

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