With the economy fluctuating, homeowners are looking for ways to unlock their home equity fast. But what if you aren’t ready to move right away?
Suzanne was born and raised in Cincinnati and has lived on the east side of town for her entire life. She loves contributing to her community through her work in administration at the local memory care center. She lives with her “fur-baby (dog), Annie, who is 4 years old and crazy as they come.”’
Moving was on Suzanne’s mind for a while, but having to go through the “time/ expense/ hassle of making my house show ready” felt like an enormous task. She was paying attention to the news and understood that the housing market was the hottest it had ever been. When she learned that home prices were beginning to drop, however, she realized she had to act fast to get the best possible offer for her house.
When she heard about Truehold on the radio, she was curious about this alternative to a traditional home sale. Through talking to a Truehold Advisor, she learned that a Sale-Leaseback could save her the time, effort, and expense that comes with putting her house on the market.
Most importantly, she could sell her home at its current high value without having to find a new place to live right away. If she did a Sale-Leaseback, she’d be afforded the “time to search for a new property and not feel rushed because of how quickly things were selling. I can take my time and really look around to find something I want.”
“I can take my time and really look around to find something I want.”
For Suzanne, the Sale-Leaseback experience was “easy” and “smooth.” Suzanne had “LOTS of questions before making a commitment, but the people I worked with were so patient and kind, they made me feel comfortable with my final decision.”
Her main hesitation surrounded the rental side of the Sale-Leaseback: “I was concerned that the lease amount would be over-priced, and I’d be locked in long term. After doing my own research, I felt that the monthly lease was a fair amount.” With Truehold’s lease only requiring a six-month commitment, she felt comfortable that she’d have the flexibility to move whenever she needed.
“The people I worked with were so patient and kind, they made me feel comfortable with my final decision.”
One month after her first call, the transaction was complete, and Suzanne received her home’s value into her bank account.
She has already used her profits to pay off most of her debt which “has given me freedom that I have not had in a long time.”
Meanwhile, she gets to keep living in her home with the additional maintenance support that comes with being a Truehold resident: “It’s nice to continue living, just as I always had, but now when a problem arises (like a washer not working or the refrigerator not cooling), I can call someone from the leasing company, and they take care of it.”
The biggest benefit of the Sale-Leaseback for Suzanne is that she now has the time to find a new home for her and Annie that she really loves. “Home to me is anywhere my family is—a tent, a house, and RV. I’m excited to find somewhere that will be warm and inviting.”
“[Truehold’s Sale-Leaseback] has given me freedom that I have not had in a long time.”
Thank you to Suzanne for sharing your story with the Truehold community!
* This interview was edited for length and clarity.
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