Learn how Homeowners are Cashing out and Staying home
One of the trending programs in the real estate market are residential leasebacks, offered by companies like Sell2Rent, Truehold, and Easyknock. These sell and stay programs allows homeowners to sell their property and continue living in it as a renter. Sell2Rent jumps out at first glance, managing to sell properties in all of 50 states. Additionally, some of these companies act as intermediaries by matching sellers with the perfect buyer.
Why Leasebacks are Trending:
Leasebacks have gained popularity as a means for homeowners to access their home equity without taking on additional debt. With a residential leaseback agreement, homeowners sell their property and then lease it back from the new owner. This arrangement allows homeowners to unlock the value of their home while still retaining occupancy.
Benefits of Leasebacks:
There are several advantages to choosing a leaseback arrangement:
- Access to Home Equity: Leasebacks enable homeowners to convert their home equity into cash without resorting to home equity loans or lines of credit. This can be particularly beneficial for individuals who need funds for various purposes, such as covering medical expenses, paying for education, or downsizing.
- Flexibility and Control: Leaseback agreements provide homeowners with the flexibility to remain in their homes and maintain their current lifestyle. This can be advantageous for those who need more time to find a new property or want to keep their kids in school.
- Financial Assistance: After selling the property. Sellers can forget about all expenses that go along with homeownership, without moving out. No more maintenance, repairs, or property taxes.
In today’s article, we’re featuring Sell2Rent since they’re the only residential leaseback platform available across all 50 states. Other great alternatives include Truehold and Easyknock.
Sell2Rent is a notable home-sale leaseback company that offers the Sell and Stay option. They are known for their nationwide coverage, and splendid customer service. Sell2Rent functions as a technology company where multiple investors compete for the same property. This competitiveness brings the property’s value close to market.
Sell2Rent offers two programs: Sell & Leaseback and Sell and Move Out. With the Sell & Leaseback program, homeowners can access cash based on the fair market value of their home and remain as renters. This program allows homeowners to negotiate the leaseback term and potentially extend it beyond the initial year. During the leaseback period, homeowners are relieved of maintenance costs, HOA fees, property taxes, and homeowners insurance.
On the other hand, the Sell and Move Out program connects homeowners with a buyer who purchases the property, allowing homeowners to collect their equity cash at closing and move out of the home.
Conclusion:
Sale leasebacks provide homeowners with a flexible way to access their home equity without taking on additional debt. Leaseback agreements offer benefits such as continued occupancy, financial assistance, and flexibility in moving or downsizing. When considering a sale leaseback, it is crucial to compare different companies, evaluate their programs, and assess their terms and conditions to find the best option for your specific needs and situation.
