REMERE SALE: DEFINITION
The repurchase is a notarial deed allowing an owner to sell his property to generate cash. However, he remains in charge of it for a fixed period not to exceed 5 years.
In exchange for an occupancy allowance, the seller benefits during this period from an exclusive and irrevocable repurchase option, at a price defined from the start of the operation.
We can talk about a temporary sale.
It was during the Middle Ages that repurchase sales had their origins. Previously, during the 1980s, the repurchase was a mechanism mainly prized by the banks within the framework of refinancing of the real estate values. Today, it is used by many individuals to restructure their debts. This mechanism is very framed by law and the contract must be signed before a notary.
This is a solution put in place to allow an individual to avoid foreclosure. This also allows you to continue to occupy your property.
Little is known about this concept, while it clears the financial situation of indebted households, which are in urgent need of money.
If you want to see concrete examples:
This mechanism, also known as “sale with the option of buyout” is framed by the Civil Code, in its articles 1659 and following.
According to the legislative definition, this sale with (temporary) redemption option is “a pact by which the seller reserves the right to take back the thing sold. The operation is carried out with the return of the main price and the reimbursement of costs. "
This definition, as well as all the texts in force on the subject, were inspired by texts dating from the 19th century.
The definition formulated by the Larousse dictionary
CONCRETE, WHAT IS A REAL COST SALE FOR?
Who are the people involved?
First of all, it is a solution of last resort. The people concerned therefore have financial difficulties. However, it is only intended for owners.
Several situations can be resolved: FICP filing at the Bank of France, Formal notice, foreclosure, forced sale. Mortgage, over-indebted owner, receivership, banking ban, over-indebtedness, non-repayment of mortgage or consumer credit from your bank. when banks no longer want to lend…
This financial arrangement signed before a notary makes it possible to deal with the problems due to these accidents in life.
What these people have in common is that they need cash quickly.
The real estate concerned is all built property: houses, apartments, commercial premises ... In short, any built property gives you the right to use this solution to save your home, without contracting new loans.
What solutions does a repurchase offer?
If you own a built property, you can consider our solution. These are the only conditions to be due.
The principle is as follows: A person temporarily transfers part of his property, keeping the right to buy it back before the end of the act (5 years).
The repurchase allows to find a solution to get out of over-indebtedness. If your property is threatened with foreclosure, this will prevent future auctions. In addition, you have time and money to clear your obligations.
In short, the mechanism works in such a way: You sell your property to our institutional investors. You keep the use of your property for a maximum period of 5 years. This time allows you to settle your debts and regain financial balance. You can start this procedure without delay and consider buying your home later. Investment research is provided by AREME CAPITAL
When this is the case, you will have the right, even the opportunity to obtain a bank loan to buy your property. Otherwise, you can sell the property at the real estate market price. You will receive the amount of the difference between the resale price and the agreed purchase price.