- R.Z. Real Estate Spain
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- Sell Your Property in Spain
- Buying Process
What are Rent to Buy properties ?
Rent to buy is a letting option whereby after renting a property for a certain period, the tenant has the option of purchasing it. Usually, the property price is determined at the beginning of the contract and the rent already paid is deducted from the final price. Normally the seller will ask for a non-refundable deposit of around 10-25% of the selling price of the property.
Rent to buy In Spain means that a property is not laying empty while waiting to be sold. In this way, the seller can maximise their income while increasing the possibility of a sale in the future.
Tenants that have the option of buying the property themselves are more likely to keep the property in good condition, as they have a vested interest in its upkeep. The tenant who would be interested in buying is more likely to paint the walls, maintain good working order and keep up with payments than a tenant with no interest in living in the property long term.
As an alternative to traditional renting or purchasing of a property, buy to let in Spain gives you the flexibility to be confident before making major decisions, while giving you the security of not wasting your money.
A Rent to Buy (also known as Rent To Own) is a contractual arrangement where a property is rented for a specific time period, with the option to purchase the property for a pre-agreed price during that term. The initial payment and all the rent monies paid during the rental period are removed from the pre-agreed sales price at the time of purchase at notary. How does a rent to buy in Spain work? :-
In summary, this approach allows buyers to start to buy their new home in Spain with as little as 3% initial deposit and with interest free monthly payments during the rental period. The Rent To Buy contract can be a private contract between both parties, alternatively, the contract can be notarised and registered with the land registry, to assist with this we have partnered with an independent lawyer. When required and if a currency transfer is necessary we also have A place in the Sun currency converter to help you get the best rate available.
Interested in a Rent to Buy property in Spain, just contact us.
R.Z. Real Estate Spain is a family business based in Caleta de Velez, Malaga and has more websites and we work with the biggest international Real Estate Platforms in the world. Next to that are our social media pages our strongest point.