rent to Buy in Co. Clare

M

missey1978

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Hi there,
Can anyone tell me if there is a rent to buy scheme in county Clare? I had a look on the website rent2buy.ie but there was none registered there. Who would I get in touch with to find out this information? all response welcomed. thanks
 
I know there's a scheme in Shannon but I've also seen people selling houses privately who have done this in relation to one-off housing. So I would suggest that if you see a house that would suit you that you could approach the vendors to see if they would be interested in this. Nothing ventured, nothing gained.
 
I have a house for sale in Shannon and may be interested in renting it with a view to selling later - I don't know how these schemes work - do you?
 
The tenant enters into a written letting agreement with the owner of the house, renting the house for eg for 1000 per month. The agreement is that they rent the house for two or three years. At the end of the term they have an option to purchase the house for a set amount of money. If they exercise the option to purchase the rent they paid can be set off against the purchase price. So if they rented at 1000 per month for three years they have 36000 paid off of the purchase price, which can be the 'deposit'. It gives people who are renting anyway the opportunity to have their rent set off against the purchase price, but if they don't want to buy they don't have to exercise the option. Obviously if they don't exercise the option to purchase they do not get the rent back. The owner takes the risk that the set price for the house fairly represents the market value in two or three years time- but the buyer has no such risk because they don't HAVE to buy.
 
Isn't there some risk on the buyer to the extent that they have to sign a longer lease (2/3 years) than they would if they were renting in normal circumstances?

If so, there's a risk that they wouldn't be free to purchase elsewhere if they saw something better that was within their budget.
 
Staples said:
Isn't there some risk on the buyer to the extent that they have to sign a longer lease (2/3 years) than they would if they were renting in normal circumstances?

If so, there's a risk that they wouldn't be free to purchase elsewhere if they saw something better that was within their budget.
Click to expand...

Naturally a tenant should not signed a fixed term contract without a break clause.
 
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