Our house is on the market as required in our IVA terms but we have had no interest in buying yet! No surprise in the current climate... Anyone sold their house and rented it back? Any advice would be welcomed!! Ta
I had a client who did it as they were desperate to stay in the area. From memory they got about 80% of market value (much more difficult to agree market value now, I would imagine). They then had to pay market rent. They were initially only offered a 6 month rental. When they pushed harder they agreed a guaranteed rental for 3 years.
Good luck
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A sale of this nature could only be justified on the back of an agent's recommendation that a sale on the open market could not achieve a better price, or that the rental figure being suggested is competitive with the local marketplace.
I suggest that you get your agent to do a further review of your property to see whether it is worth reducing the price for a quick sale.
Sale and leaseback companies will offer between 60% and 80% of the open market value, depending upon the strength of covenant offered through a rental.
