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? :-
Here is an example of how rent to buy would work:
- The property property of your choice costs 150,000 euro, you view it and love it.
- On your behalf we make an offer to the owner something like this;
- 10% deposit down now, (15,000 euro) plus an additional 1,000 per month rent which will be deducted from the price in two years.
- Completion is in 24 months.
100% of the deposit and the rent paid is deducted from the final selling price and you will become the proud owner at the notary after making the final payment!
Here are some amazing properties with a Rent To Buy option:
Large executive Villa in Villena
Country house in the mountains
Apartment near the Centre of Sax
4 bedroom apartment in Elda
Third floor apartment in Monovar with a lift
Large Restaurant with function rooms in Salinas
Modern Apartment in El Pinós/Pinoso
Three houses on one plot in Monovar
Stunning Detached Villa with a second house
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