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by go4it on April 7th, 2008

go4it

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How do these rent with option to buy agreements work?

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Answers. 2 helpful answers below.

  • by Rent2BuyinSpain on June 25th, 2008

    Rent2BuyinSpain

    A Rent-2-Buy contract is a contractual agreement between a tenant and a property owner, where the tenant has the right to buy the property after residing in it for a specified period of time. This period is determined in the contract and normally varies between 1 and 5 years. The tenant will have the right to exercise their option to purchase the property at any given time throughout the rental period, without any actual obligation to do so. In addition, if the tenant chooses to buy the property, they will have a percentage of the rent that they have already paid deducted from the purchase price.

    For more detailed information and advice on this and a selection of Spanish properties available to rent-2-buy go to www.rent2buyinspain.com, Spain’s number 1 specialist rent-2-buy portal.

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  • by Wide Awake @ has closing date woo hoo on April 7th, 2008

    Wide Awake @ has closing date woo hoo

    They usually apply an agreed-upon portion of the payments to the purchase price, provided the payments have been made according to the contract (on time, not bounced, etc.).

    It's a way for a renter to "lock in" a contracted price to buy, depending on the agreement.

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