Rent with option to buy

Question

Rent with option to buy

Sergey asks:

Hello, I want to buy an apartment but I don’t have enough money and the company offered a rental option with option to purchase. I would like to know if there is a lease with the right of redemption in Spain and, if so, what documents the company should provide to conclude a contract and confirm the deal with me

24.04.2019

SPAIN. Consultation

Investments, leasing, sale

Expert answers (3)

Natalia Zavalishina (Distant Property) · Answer 1 · 2019-04-26T12:15

Good afternoon, yes, there are such options, but as far as we know, they are possible for residents of Spain or EU citizens,

Olga Popova (LUXBARCELONA) · Answer 2 · 2019-04-24T23:49

Yes, in Spain rent is acceptable with subsequent purchase. For this purpose, a special lease agreement is drawn up with the subsequent obligation of redemption - alquiler con opcion de compra. The contract prescribes all terms for payments. That is, you pay the rent and it is credited to the final purchase price. You can not then refuse to buy a house. And usually these are not long-term contracts, the whole process is set within 3 years. In my experience. Documents you must provide an agency that sells an apartment. Nota simple - a document confirming the name of the owner of the apartment. In this case it will be reasonable to ask him. In addition, just under the usual lease agreement, they still provide Cedula de Habitabiidad (passport for the apartment) and Certificado Energetico (Energy certificate). I hope this information will be useful to you.

Administrator (Estate Barcelona) · Answer 3 · 2019-04-24T21:37

Good day, Sergey! Some companies in Spain, indeed, practice these options. As a rule, these are not Spanish agencies. Most likely, the agency you mentioned has already bought the property offered to you and gives you the opportunity to buy it in installments. In the case of a purchase, you will sign the escort at the notary. In this document you will need to make all the terms of the transaction, including the amount and timing of their payments. So do not worry, as the notary will protect you from any illegal actions. Take the main thing with you to the deal of your translator.