Sale and Rent Back (SRB)
Hi, Last year we had put our house on the market (detached bungalow, Torbay, 2 bedrooms, sea view, large new conservatory) to release equity for funding our business. Originally we intended selling the house and moving somewhere else, but since we couldn't find a suitable and affordable alternative nearby, we now strongly consider staying! We are fully aware of the problems associated with SRB. We learned that apart from private buyers only very few regulated firms are active, and that we will get less money than by a normal sale, but this may still be the best option for us, but we can't afford losing too much by the sale. We've learned that often 85% are paid on SRB, and sometimes more according to the status of the property. In our case, the property has been renovated recently (£42,000 spent), so no further investments are required. Can anyone recommend interested private buyers or a reputable firm? Or how could we find such buyers? We would be ideal tenants! Many thanks!
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