What to do if you can’t sell your house.
Do you need to move, but can’t sell your house? Not sure what to do? You don’t have to sell your house for less than market value!
Other ways of selling properties have become more common in recent years, especially ‘rent to buy’. As would-be home buyers are now facing tougher obstacles when applying for a mortgage. This has become a way to sell a property that helps both seller and buyer as it allows the seller to move out with the knowledge that they have a “quality tenant” in the house and the tenant is going to buy the property as soon as they can.
Can I rent out my house if I can’t sell it?
“Accidental Landlords” account for 30% of all landlords according to Rightmove. These are usually people who were unable to sell their property and had to rent it out. Renting a property out can be profitable or can at least cover your costs until you can sell your house, but it does come with pitfalls. If you are not a professional landlord but are just thinking of renting your house out, there are lots of issues to be aware of and can be difficult if you are not lucky with your choice of tenant or are not aware of your responsibilities. Even experienced landlords are often heard complaining about things that have gone wrong.
Rent to Buy sales can help property owners who can’t sell and don’t want to be a landlord either.
The benefits include:
- Long term tenant who will buy the property after a few years
- Landlord is not responsible for maintenance
- Tenant does their own repairs at their own cost
- Tenant looks after the property as they will be buying it
- Legally binding contract
- Property owner can move on and not have to worry about the old house
You can still sell your house, and move, without sacrificing on the price.
If you want to find out what options are available to you then fill in the form below and we can help you go through what you can do.