Il Rent to Buy al MeCa Milano 2012

Excellent response from the public manifestation of Milan Milan MECA (Palazzo Giureconsulti, 27, 28 and 29 October 2012) now in its second edition.

In fact the Fimaa (Association of Realtors of Milan Monza & Brianza), one of the organizers, notes that there were about 3.800 access.

On the last day, I attended there was talk of alternatives to traditional home purchase, the bare ownership to trade and the most recent novelties for the Italian real estate market, il Rent to Buy.

It 'sa program that allows you to enter the house first choice for rent (Rent) and then full ownership (Buy).

In practice, once you pay a deposit and complete the purchase after the maximum period of years set, at a fixed price agreed today.

The amount that is paid each month is for rent only for the 50%. For the rest serves as a down payment on the total price.

The Rent to Buy is ideal for those who lack sufficient initial liquidity for purchase or to turn on the mortgage.

With the monthly payment the buyer begins to pay for the house and create a historic credit helpful to get bank financing after the maximum period of years set (thus acquiring greater reliability banking) .

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Example of Rent to Buy for an apartment for sale in 150.000,00 €:

9.000 €, initial advance

750 €, monthly payment (which 375,00 rent more 375,00 down payment)

22.500 € (sum set aside after three years)

127.500 € (amount to be paid to the deed (85%)

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It is also valid as a purchasing system for those who must first sell the used. In that case the buyer goes right into the new house and has plenty of time to "sell well" used the, before abut the new building as a first home (not to lose the tax).

It 'important for the buyer the fast registration of the preliminary, not to lose the amount paid in advance in the event of failure of the manufacturer. It also has advantages because it can demonstrate to the bank that your bank has already found a buyer.

The Rent to Buy seller allows each manufacturer to modulate the better, for example, the MECA was presented this formula: lease 4+4, purchase option in place of the preliminary price already agreed to do in the first 4 year lease, deposit (that is returned to the exercise of the purchase option).

As usual it is important to rely on notaries and especially financial advisor to verify that there is the possibility of a mortgage.

Alex Gaetani

To learn more I recommend reading the following book, in English: