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Are you renting? Now – You Can!! If you are interested in buying a home but for whatever reason you can’t get a mortgage just now, please contact us. We have opportunities for families and professionals who are interested in buying in all areas of Northern Ireland,Greater Manchester and Highlands & Islands.
Deals can be structured to suit you and
with a fixed rent (usually slightly below market rent) and
payment plan to suit your circumstances.
This opportunity gives the benefit
of being able to move in on day one and purchase the property
down the line.
Want to know more about this exciting new opportunity? Continue reading below for some frequently asked questions.
How does
We have a stock of homes available from you
to choose from.
When you decide which house suites
you, we structure a deal with you that suits your circumstances.
We agree on a price at the beginning
of the contract and work with you to help you build up the
deposit.
At the end of the term you borrow
the balance of the monies needed to buy the house from your
mortgage company at the price agreed at the beginning of the
contract.
What if the house has gone up in value?
If the house goes up in value that does not
affect the purchase price as we sell to you at the price agreed
on day one.
This means that if you add any value
by say putting in a new kitchen etc. then you are adding to your
investment and not the sellers.
What if the house goes down in
value?
At the end your mortgage company will have
a valuation carried out on the property, in the unlikely event
that the property has gone down in value we will need to
renegotiate the agreement between us and you as the mortgage
company will only lend on the market value of the property.
Changes can be made to the purchase
price or the length of the contract at this stage subject to
agreement on both sides.
What documents will I get?
You will have two legal documents.
An Assured Shorthold Tenancy
agreement and an Option Agreement giving you the option to buy
the property at any stage during the term.
How does the Vendor benefit?
We benefit by getting good quality tenants
with a guaranteed rental income and a guaranteed sale at the end
of the term.
What if I am not in a position to get a mortgage at the
end of the term?
If you are still interested in purchasing
the property we will work with you to make sure that you can get
the property.
This may mean something like
extending the term.
It is in our interest to work with
you.
What if I don’t want to purchase the property any
longer?
The legal document is an option which you
can withdraw from at any time.
It’s not committing you to
completing the purchase but giving you the option to purchase.
You can withdraw at anytime.
Contact us: tricia@rentnowbuylater.info |
