Rent to Buy options
The whole idea of “Rent to Buy” is that you are buying the property.
It is not a ” I will rent and possibly buy the property” no that does not work.
People who have their properties for sale want to sell their property, if they were happy to rent it they would have rented it out.
However, they are happy to look at options for “Rent to Buy ” if the terms are favourable.
This option suits buyers who have to sell a property first in order to complete on another property.
So how does it work?
- Once you have found the property you want to buy, then the terms are drawn up.
- A deposit of 20% is paid
- The terms of the rental period are agreed one or two years
- The rental amount is agreed (the total rent paid is taken off the final price)
- The private purchase agreement is made and a date set for completion