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Rent-to-buy Drogheda

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  • 06-04-2014 7:56pm
    #1
    pbody1985
    Registered Users Posts: 96 ✭✭


    Hi All ,

    not sure where to post this , me and my husband our looking at rent to buy in drogheda , just wondering does anybody know anyone doing this ?

    Thanks


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    #2
    Jen44
    Registered Users Posts: 455 ✭✭Jen44


    Where are you thinking of in Drogheda. We are currently in the process of buying in Dublin and are planning to rent our house with a view to sell in a year or so


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    #3
    pbody1985
    Registered Users Posts: 96 ✭✭pbody1985


    Jen44 wrote: »
    Where are you thinking of in Drogheda. We are currently in the process of buying in Dublin and are planning to rent our house with a view to sell in a year or so

    Hi Jen sorry only seeing this now

    Is this,still an option ??? What is,the area on drogheda your selling ??


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    #4
    Jen44
    Registered Users Posts: 455 ✭✭Jen44


    Its a three bed semi in Cedarfield. I sent you a pm.


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    #5
    Victor
    Registered Users Posts: 78,423 ✭✭✭✭Victor


    Rent-to-Buy as an idea just hasn't worked in this country.

    Do not hand over any money (not even a deposit) until you speak to your own solicitor (not one recommended by the vendor / their agents).


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    #6
    Gers_punto
    Registered Users Posts: 278 ✭✭Gers_punto


    Rent to buy does NOT work... I have just moved from my rent to buy house as the banks wouldn't touch us with a barge pole.

    Every month our "rent" was paying principle off the home but the banks wouldn't accept this as our savings that ran alongside paying our rent weren't substantial enough.

    I explained ed to the BM that the rent woukd be replaced with the mortgage , at a lower rate per month but still they wouldn't budge also the asking on the house was way over valuation figure.

    I lived in a house currently worth around 130 and was locked into a purchase contract of 170 - my 2 year rent of circa 20k...so would need a mortgage of around 150ish. 20k over the banks valuation...

    The only person winning in that circumstance was the builder who didn't have an empty house the last 2 years and now has a house in turn key condition with fantastic finishes. That is on the market for 130 currently


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