Rent To Buy Process:
1. You agree with us on a set of terms binding the transaction, using a Heads of Terms. We will now send the agreement to our solicitors for drafting. The drafted Heads of Terms will contain every relevant information relating to the agreement, such as the exact purchase price, the amount of monthly rental income we will pay you for using the property, purchase price payment completion date, etc.
2. You review the drafted agreement, with the help of your solicitor (it’s recommended you use a solicitor that’s familiar with Heads of Terms agreement).
3. After everything has been reviewed and agreed upon, we take over the management of the property. You don’t have to do anything again from here – just wait for your monthly payments.
Benefits of Rent To Buy
- No landlord responsibilities – even when tenants trash the house, it’s none of your business.
- You receive the full asking price for your property, provided you’re flexible about the payment.
- You continue earning monthly income until the final payment is completed.