How does a Texas Residential Sale Leaseback Transaction work?
You sell the property to us for a fair price… We become your landlord and we lease the property to you for a fair market rent (short term or longer term leases available).
Is a Sale Lease Back Better than a Texas Cash-out Loan, Home Equity Loan or a Reverse Mortgage?
Quite honestly, in most cases, getting a Texas Cash-out loan, a Home Equity Loan or a Reverse Mortgage is a better option than doing a Sale Leaseback. Please reach out to us and we can show you all your options. If other options – such as a cash-out refinance or reverse mortgage – don’t work in your situation, we can see if a sale leaseback option will work for you and us.
Why Sell and Lease back my Texas home instead of other ways to access the equity in my property?
We generally recommend a residential sale lease back structure as a last resort. We prefer to steer our clients to Texas cash out refinancing, home equity loans or even a reverse mortgage, and usually only suggest a sale lease back if the client’s income or employment situation has changed and they can’t qualify for one of these options for that reason.
Who is the ideal candidate for a residential sale lease back?
The most common situation is when a homeowner has substantial equity in their home, but their employment situation has changed due to starting a new business (becoming self-employed), retiring or even going back to school. In these situations, a homeowner may want or need to access their home equity, but they may not be in a position to qualify for a cash out refinance or other loan. They may also want or need access to all of their home equity, not just the amount allowed by Texas law.
How much will you pay for my Texas property?
We will pay a fair, market-based price for your property. The exact amount we will pay depends on the condition of your property, its location, the quality of your lease application, as well as other factors.
Will you allow me to purchase my home back in the future?
This can be negotiated as a part of the sale lease back agreement. In some situations, we will agree to sell the property back to you in the future.
What kind of properties qualify for a Sale Leaseback?
Our program is available through out the state of Texas, but we focus on homes located in Major Metro areas with values between $100k and $500k. The home must be a single-family dwelling and must be your primary residence.
Can I apply for a Residential Sale Leaseback if I was not approved for a Texas cash out refinance or a home equity loan?
It is quite possible. Every situation is evaluated individually. We encourage you to contact us and discuss your situation – we will be happy to help you explore your options.