February 9, 2024 by miskuentas Although this type of lease is more related to the acquisition of vehicles, it also applies to real estate issues.
One of the biggest dreams for many is the purchase of a home and to achieve this, the option is to resort to a mortgage loan; However, not everyone is a candidate to obtain financing of this type to acquire a property.
Although applying for a mortgage is the traditional way to buy a property, it is not the only way to achieve this goal. An alternative that is beginning to gain ground is rent with option to buya rental modality that is popular in the United States and Europe, and that is just beginning to have a presence in our country.
This trend, better known as leasing inmobiliariois a type of financing that allows you to rent an asset, in this case a property, for a specific period with the possibility of acquiring it.
Although this type of lease is more related to the acquisition of vehicles, it is now also applied for real estate issues.
According to the real estate portal Vivanuncios, the leasing inmobiliario It allows the tenant to have the opportunity to buy it after a certain period of having lived in it and pay it through monthly payments, just like rent, through the rental of a property.
For this, it will be necessary for both the owner and the tenant to express the intentions of acquiring the property in a lease and sale contract. In this same document they must set the sale price of the property, as well as stipulate the period in which this action will be carried out.
With respect to sale price of the home, this must be stipulated from the beginning of the contract, it cannot be modified and it should be noted that the price may be lower than its acquisition value in the market, since the transaction as such is not the payment of a mortgage.
In relation to the method of payment, the rent that the tenant pays to the owner will be deducted from the final sale price until the debt is settled. This payment can be deducted from the entire debt or a minimum of 30% of the rent, in this way The money invested would be the equivalent of the down payment amount normally paid on a mortgage.
At this point, it should be considered that the rental price in this type of financing modality may be higher than a normal rental, due to the implications that this operation represents.
Another essential condition is the length of time the contract will last, That is, establish a period for this modality so that during the rental of the property the tenant finishes paying it, this period can be a minimum of one year and a maximum of 10.
Daniel Narváez, VP Marketing of the Lamudi real estate portal, explained that some of the financial institutions that receive this type of requests are Multiple Purpose Financial Companies (Sofom) or Limited Purpose Financial Companies, also known as Sofoles.
According to the executive, the difference between the real estate leasing and a mortgage loan is that for the first a prior down payment or advance is not required; In addition, you must pay the total amount of the property in a minimum of 10 years, while a mortgage is for up to 20 years in a financial institution and 30 in government housing institutes.
Mortgage loans are of utmost importance to acquire a home, however new tools have emerged such as real estate leasing that will allow more people to begin building their assets,” he assured.
Alternative for your pocket
This modality is an attractive option for those people who would not be able to acquire a property as they have no way of check your income or not having the funds to pay the down payment.
Héctor Klerian, Deputy General Director of JLL, pointed out that this purchase model is focused on those people who cannot access bank credit.
According to the expert, this real estate trend is focused on young millennials who are interested in purchasing a home but do not have a credit history or a down payment to purchase a property; as well as freelance workers, from whom financial institutions ask for more requirements to grant them a mortgage loan.
“This scheme makes it easier for people who do not have a guarantee or do not have a credit history to have the opportunity to buy a property,” he said.
2024-02-09 23:51:28
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