Rent-To-Buy in Spain... Experience or Opinion
#31
Lost in BE Cyberspace
Joined: May 2009
Location: Alicante province
Posts: 5,753
Re: Rent-To-Buy in Spain... Experience or Opinion
If the selling price is fixed at the start of a rent to buy contract, then it can't possibly work in Spain (for the buyer).
Spanish house prices have been in freefall for the past three years or more, and every indicator, even from the Spanish government itself currently indicate that even more falls are due over the next two years at least.
Developers, builders and even banks have gone bankrupt with toxic property portfolios that are largely unsellable, at any price.
Spanish house prices have been in freefall for the past three years or more, and every indicator, even from the Spanish government itself currently indicate that even more falls are due over the next two years at least.
Developers, builders and even banks have gone bankrupt with toxic property portfolios that are largely unsellable, at any price.
#32
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Joined: Aug 2009
Location: Costa Blanca
Posts: 3,143
Re: Rent-To-Buy in Spain... Experience or Opinion
Depends - if the price is fair in the current market, the buyer has to live somewhere and if he has found the house he wants he might as well be paying a rent that is reducing his final purchase price as against normal rent which is
totally 'lost.'
The buyers also feel settled and secure and can make it feel like a home and not just a rental.
The huge percentage drops are in the past and property is selling again in our area evidenced by more agents opening again and more property adverts in the papers. Albeit mostly the cheaper end of the market.
totally 'lost.'
The buyers also feel settled and secure and can make it feel like a home and not just a rental.
The huge percentage drops are in the past and property is selling again in our area evidenced by more agents opening again and more property adverts in the papers. Albeit mostly the cheaper end of the market.
#33
Lost in BE Cyberspace
Joined: May 2009
Location: Alicante province
Posts: 5,753
Re: Rent-To-Buy in Spain... Experience or Opinion
Depends - if the price is fair in the current market, the buyer has to live somewhere and if he has found the house he wants he might as well be paying a rent that is reducing his final purchase price as against normal rent which is
totally 'lost.'
The buyers also feel settled and secure and can make it feel like a home and not just a rental.
The huge percentage drops are in the past and property is selling again in our area evidenced by more agents opening again and more property adverts in the papers. Albeit mostly the cheaper end of the market.
totally 'lost.'
The buyers also feel settled and secure and can make it feel like a home and not just a rental.
The huge percentage drops are in the past and property is selling again in our area evidenced by more agents opening again and more property adverts in the papers. Albeit mostly the cheaper end of the market.
The BOS has tried to sell them, especially CAM, but nobody will touch their property portfolio, hundreds of thousands of ridiculously overpriced properties, many on uncompleted building projects which have no resale value.
CAM has tested the market by releasing a tranche of 'slum' repossessions with offers of 120% mortgages, but there were few takers. The scheme guaranteed negative equity on a grand scale from day one.
At some stage more repossessions, tens of thousands of them, will have to be released on to the market. I can't even guess what will happen to the Spanish property market.
#34
Re: Rent-To-Buy in Spain... Experience or Opinion
LOL !! You are a cheerful soul !! - The new Spanish Govenment will sort us out !?!?!?!?!?!?!?!
so what is your suggestion then ?
#35
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Location: Alicante province
Posts: 5,753
Re: Rent-To-Buy in Spain... Experience or Opinion
As for the new PP government? They're Conservatives and like their cousins all over the world are not foreigner friendly.
#36
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Joined: Aug 2009
Posts: 5,008
Re: Rent-To-Buy in Spain... Experience or Opinion
I just hope everyone doesnt cotton on to my plans and beat me to it.
#37
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Location: Alicante province
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Re: Rent-To-Buy in Spain... Experience or Opinion
Have you ever considered selling the marida? You may be able to buy a Hacienda, with fighting bulls roaming the plains and regular visits from Royalty.
#39
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Re: Rent-To-Buy in Spain... Experience or Opinion
In my case I'm working on basics. 10 mils a kilo. It would make me a millionaire, a happy one.
In case the Closer gets too excited, we are still discussing the original topic. Albeit with a sense of humour. Here we go.
#40
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Joined: Aug 2009
Posts: 5,008
Re: Rent-To-Buy in Spain... Experience or Opinion
Well, I've considered it too. It probably makes me a bad person.
In my case I'm working on basics. 10 mils a kilo. It would make me a millionaire, a happy one.
In case the Closer gets too excited, we are still discussing the original topic. Albeit with a sense of humour. Here we go.
In my case I'm working on basics. 10 mils a kilo. It would make me a millionaire, a happy one.
In case the Closer gets too excited, we are still discussing the original topic. Albeit with a sense of humour. Here we go.
#41
Re: Rent-To-Buy in Spain... Experience or Opinion
Sorry.
As you were!
#42
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Joined: Aug 2009
Posts: 5,008
Re: Rent-To-Buy in Spain... Experience or Opinion
It is like saying thank you with the words "muchas veces" instead of the usual muchas gracias, or hasta lugo, hasta lumbago, etc if done properly nobody will correct you.
#43
Re: Rent-To-Buy in Spain... Experience or Opinion
The word "marida"should not be used accidently, that is where you went wrong, you should say it with conviction, with emphasis, then the anal old sod would not dare to correct you.......
It is like saying thank you with the words "muchas veces" instead of the usual muchas gracias, or hasta lugo, hasta lumbago, etc if done properly nobody will correct you.
It is like saying thank you with the words "muchas veces" instead of the usual muchas gracias, or hasta lugo, hasta lumbago, etc if done properly nobody will correct you.
actually I reckon 'marida' is sneaking in big time - my students say it a lot
I do correct them, but have wondered what would happen if I & others stopped doing so - I'm sure it would become accepted, especially since most Spanish people seem to know what it means
we thought of doing a rent to buy (there are some developments around here offering it) - but for the simple reason that you have no idea what the market is going to do, we decided against it
#44
Re: Rent-To-Buy in Spain... Experience or Opinion
actually I reckon 'marida' is sneaking in big time - my students say it a lot
I do correct them, but have wondered what would happen if I & others stopped doing so - I'm sure it would become accepted, especially since most Spanish people seem to know what it means
we thought of doing a rent to buy (there are some developments around here offering it) - but for the simple reason that you have no idea what the market is going to do, we decided against it
#45
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Joined: Aug 2009
Posts: 5,008
Re: Rent-To-Buy in Spain... Experience or Opinion
Everything is agreed on day 1, the length of time for the rental period, the price of the property, the depositamount, the monthly rent, and the percentage of rent that comes of the asking price when the deal goes through.