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Rent to buy house

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  • 21-10-2013 8:09pm
    #1
    Techy_1
    Registered Users Posts: 195 ✭✭


    Just wondering if anyone would be interested in selling their house via rent to buy.

    Myself and my wife work full time but as we have only recently started in our jobs we don't yet qualify for a mortgage.

    the basic concept would be for us to rent the house for 3 years at up to €1000 per month and at the end of the term buy the house less the 3 years of rent paid which would be used as the deposit.

    If anyone has a property and would be interested then please PM me
    thanks
    Karl
    Techy_1


Comments

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    #2
    Eponymous
    Registered Users Posts: 1,374 ✭✭✭Eponymous


    Essentially buying the house at €36,000 below the market value while the vendor has the headache of continuing to pay the mortgage for three years and take on the responsibilities of a landlord.

    Can't see how that would be attractive to anyone!


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    #3
    matt-dublin
    Registered Users Posts: 4,468 ✭✭✭matt-dublin


    i think its more financially viable to be a landlord then enter the rent to buy scheme.

    i would only be interested in renting with an option to buy at the end of the lease period as a landlord.


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    #4
    snowman224
    Registered Users Posts: 106 ✭✭snowman224


    Would probably be a good agreement for anyone with a property in financial distress.

    For a normal seller, it's too dangerous.
    - What if you dont get a mortgage at the end of the 3yrs?
    - What if the property has gone down considerably from the agreed price? (you may not complete)
    - Similar issue if it's gone up in value considerably! Vendor may be hesitant to complete.


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