You are reading this because you are contemplating selling your house and renting it back.
Home owners do this for a host of reasons not limited to repossession, Mortgage arrears emigrating Divorce or separation etc Before I tell you two very important questions you should ask your buyer let me just make a quick important point.
It is a good option to sell up but NOT the only option.
If you have got a good clean record in the last 24 months i.
e.
no CCJs or bankruptcy order you can always ask your local or a trusted Mortgage provider or even you bank to see if there is any equityleft in you home to release via a Re mortgage if that hits a brick wall then you can consider the Sell and rent back option.
First Question How long a tenancy will he/she be offering you 6months or 1 yr or 10years You want stability your kids are youngor you want them to be stable in school or you want to be around families.
Some Landlords are notorious for kicking out tenants after 6 months of tenancy so be careful Second Question Is your rent going to be fixed and for how long for or will it be going up like your age.
You rent should be fixed for at least 2yrs to give you the stability that you need if you want to be renting back.
The reason you are taking the option of selling up was to keep your outgoings down.
So the least you can ask for is a Fixed rent.
These questions are not exhaustive but should form a base for you.
Note the time they take in returning your calls too it will help you understand if you sell up and you call in an emergency hence the adage morning shows the day.
You should not be incurring any fees during these transaction of selling you home.
Any buyer who charges you any fees whatsoever is a fraud.