Having to leave the place you call home during a divorce is perhaps one of the hardest circumstances families have to face. Disrupting an entire lifestyle by having to sell the house and moving out is a very difficult situation. But what if selling the property, cashing out the equity, and staying home could all be possible? Well, it is now!
Sell2Rent LLC, a Miami-based company, offers a very interesting model that allows families to sell their houses and stay as renters. Their model, connects homeowners with buyers and investors, allowing families in financial distress or going through a divorce to sell their house, cash out their equity and negotiate a rental agreement.
Contrary to some of the other Residential Leaseback Programs out there, Sell2Rent advocates for the homeowners since they are not buying the homes directly. This model guarantees the best possible financial terms for the families, as they will do everything possible to obtain a fair market value offer. On the other hand, investors will be purchasing a house that will not be a single day on the rental market but most importantly their tenants will have a very strong emotional attachment to the house, and they are guaranteed to have liquidity after cashing out their equity.
Divorces have increased during COVID-19, and more and more people are saying “I do” to divorce. While it’s not a surprise that the stress of the pandemic caused some major breakdown in relationships, people who are facing this stage might have to face new challenges, not only involving their kids (if there are any) but a division of liabilities, financial ties, and marital assets such as their house.
As the company continues to enter new markets, its model continues to become more and more reliable. In 2022 Sell2Rent will be launching a new feature called the IHS (Investable Home Score), which will determine if a property is investable or not for specific buy boxes. This will attract a lot more institutional investors, as well as first-time “mom and pop” investors which now will be able to make an accurate decision when deciding to buy an investment property.