SMF - Just Installed!

Buy and Rent Back

Started by Blackcurrant, December 03, 2013, 12:29:22 PM

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Blackcurrant

My solicitor says she would not like to see me embark on this.  What d'you think?

Nice couple late 60s want to retire on their sale price so sell to me, stay put and rent it back (good house price, good rent, good yield)  5 years to start with, then we see.
My thing is I imagine a scenario where they either are too sick to move, family unable to help for some reason, can't afford the rent anymore ( but don't qualify for housing benefit because intentionally sold their home??) and I'm too soft hearted to turf them out because by then they're old and sick, and legally what I right down now may not stick in future?

Opinions gratefully received!  Thx

Riptide

What downsides did the solicitor give?

I can see quite a few pitfalls as you've already mentioned yourself.