One of the most interesting strategies to sell a property during periods such as the present one, when the demand for real estate and the access to a mortgage is on hold, is the renting of a home with the right to purchase.
With this option tenants of a property can transform the amount assigned to the payment of the rent into a monthly instalment for the purchase of their house.
This payment method, promoted from the public institutions and followed by major real estate companies, has been rising interest among users that need to have access to a property but that under the present situation can't afford to make a down payment or are not able to find the necessary financial support (mortgage).
SpainHouses.net, adapts itself and reflects the needs and evolutions of the market to offer all its users this new option, and provides the necessary tools for the inclusion of new offers as well as for searching and tracking them down.
Rent to buy is a contract agreement between a tenant and a property-owner in which the tenant has the right to buy the property after renting it during a previously agreed period of time (usually between 2 and 5 years). When eventually the tenant exerts that option or purchase right, a percentage of the paid rent will be deducted from the final selling price.
This mixed financing is specially designed for people that have seen denied their access to a home due to high prices, because they do not have sufficient money to make the down payment or are denied the access to the traditional bank financing channels.
And it is especially interesting in periods of financial uncertainty, when it is not possible to know just how far interest rates will reach and how will consumers be able to assume this circumstances. A situation of which those interested in purchasing a in the short and medium term can take advantage of.
Real estate companies that decide on offering this method will normally allow their clients to rent a property for a moderate price, between 500 and 800 Euros depending on the property, offering them the possibility to buy it in the medium term (between 2 and 5 years).
The main advantage is that the amount paid during the renting period will be discounted from the final total price of the property.
Real estate agencies, instead of having unproductive houses and flats, can resort to this kind of rental to release them.
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