Stop Repossessions

Sell & Rent Back. Buy Back Options

Can I Buy My House Back After Repossession?

After home repossession, some people wish to move on and live elsewhere. You may decide however, that selling your home and renting it back is a good short term option to get you back on your feet. In that case it is well worth obtaining a buy back option from whoever buys your home.

Buy back options should allow you to buy back your home at a discount at a pre-agreed future date, preferably when you are back on your feet, financially.

Buy Back Option Facts

  • If you have sold your property below market value, you should be entitled to a discount when you buy your home back
  • Whatever you agree with your buyer, make sure you get it in writing
  • When your option time arrives, make sure you have given yourself enough time to arrange a mortgage and deposit
  • In some cases you may not need a deposit if you are buying your property at a discount but are able to mortgage to the market value

What Are My Options?

Even if you sell and rent back and decide that home owning is no longer for you, it is still worthwhile obtaining a buy back agreement, just in case you change your mind at a later stage.

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