2009 has been one of the toughest financial years we have ever seen. Many people have been left with money worries, bills and in some cases debts that are threatening their homes.
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The Sale and Rent Back Process
Now that the sale and rent back sector has been regulated, each company has prescriptive guidelines, which they must adhere to. This ensures that the consumer is dealt within a consistent manner. However, whilst it is important to remember that the guidelines set out by the FSA ensure that the consumer is dealt with in accordance with the 6 consumer outcomes, it does not prescribe to the provider the purchase price of the agreement or the period the homeowner can remain within the property.
Sell and rent back has been in existence for many years. In the past, there have been a number of cases where companies or individuals have entered into a sale and rent back agreements, promising the owner the opportunity to remain in their property for as long as they wish.
If you have been waiting to make property investment, Brisbane has almost remained cold for the most part of the last year. Their have been few exceptions where some suburbs have shown modest growths of 0.13% to 4.3% both in terms of transactions/sales as well as rise in the value. On the other hand, certain inner city suburbs that are close to the CBD have shown hectic activities with Wilson Units, Green Slopes and some other estates recording an astonishing 13% plus growth.
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