Property - Try before you buy?

I have seen estate agents in other areas of Spain who offer a try before you buy deal. For example you rent the house and if you like it you buy it and get the rental money refunded once the sale goes through. Does anyone know of an agent covering Quesada who does this?

Many thanks.

Sorry, don't know of any Quesada agents offhand - but it's more commonly known as 'Rent-to-buy'.
My understanding of it is: you still need to put a deposit down & you then pay your rent for 'X' amount of years (All agreed with client) & the monies paid (Rent) is deducted from the buying price & you have to have a mortage in place at the end of the time decided.
I think it all depends on the owner selling as it obviously takes longer for them to receive their money......
Just ask estate agents if the option is there

Thank you for the reply. Will ask the agents. Luckily I wont need a mortgage as we are selling up in the UK and retiring to Spain.

Many thanks again.

This was quite a popular sales gimmick a few years ago but I don’t think it’s something that’s used that often now. I think it’s quite a complicated contractual arrangement and mortgages are much harder to obtain these days. In the heyday, it was used a, to sell mortgages and b, to have houses occupied when there was a glut.

If a mortgage is not required then I am not sure you would qualify as why would you need to do that if you can buy outright and have cash available to buy and rent on the open market? Maybe I have misunderstood but I thought it was just lenders/Developers with bank backing.

nataliefraser wrote:Thank you for the reply. Will ask the agents. Luckily I wont need a mortgage as we are selling up in the UK and retiring to Spain.

Many thanks again.

Hi Natalie,
to the forum.

This rent to buy sounds a good idea.

I believe though that anyone selling up completely in the UK to retire anywhere abroad is taking a risk. No one knows the future but the best insurance I know for those who want to buy in Spain, if at all possible, is to also buy a small bolt-hole type property, to possibly rent out the UK or just use for holidays in the UK, even if this property is just used to go back to the UK for the hottest part of the year (August) or for the colder month(s), if need be. Then if this property is not needed in years to come, there is no better financial investment in my opinion.

I have spoken to quite a few Expats, some who have done this and some who say they wish they had been able to do it and others who wished they had rented their UK place out and rented in Spain, until they were sure that the different lifestyle was for them.

Of course many Expats love it in Spain and would never want to go back but it is still a chance to take. One of the happiest couples I know has rented out their UK property for around 4 years and have had a wonderful time renting and living in the area (on the proceeds of their UK rental), even upgrading to a villa during that time but recently they say they are ready to go back, not least because of their age and a few health problems... and it is so easy for them to return when their rental contract is finished in the UK.

Just my thoughts, everyone is different, but I would definitely at least rent first, even just for 6 months, before selling the UK property outright, if buying a smaller property to leave in the UK is not on the cards.

I'm not being negative as I love Spain and this area where we have our holiday home, but all year round living is so different to holidays.