A sale and rent back agreement can come to your aid in a range of circumstances where you are suffering financially. One of the main reasons you might want to sell property and rent it back with a sale and rent back agreement is if you are facing problems keeping up with your mortgage. Mortgage arrears are the nightmare of every homeowner as they result in repossession of the home and eviction.

Repossession of course means that you would have to leave the family home and all the treasured moments that are in it. A sale and rent back agreement may allow you the best of both worlds. However you do not typically get 100% of the full value. You would not have to worry about being evicted as you would be living in the property as a tenant, for a fixed period of time. The rent you would be paying may be more affordable to you and you are not faced with the stigma.

Of course repossession is not the only reason where a rent back agreement could help. If you are divorcing and need to sell to split proceeds then selling your home and renting it back would allow you to remain in the property. You could also take advantage of renting back over the short term when selling if you were emigrating or if you were relocating due to work and wanted to sell but needed a roof over your head until you left.

When considering this always check all your options as this may not be the most suitable for your needs.