How to be optimistics nowadays to confront the current situation
05 January 2011
Published at 14:02 Comments (0)
I think it is important to be optimistics nowadays to confront the current situation.
With regard to the real-estate situation we can say that in general terms it does not shine particulary at the moment.However if we use "other mirror to look through" we will be able to discover a new view of it.
Legal figures which have not been used very often last years are becoming more and more important. As an example we can mention the rental contract with option to purchase. This is an alternative which can be very convenient for both parts, seller and buyer: for the seller because it is an easier way to give exit to his property or to reduce stock in case of developers. And for the buyer because it allows him to pay a minor monthly expense which suppose "saving money" for the future purchase.In fact these rental expenses will be deducted from the final price. It is an interesting option in front of high interest rates, lack of liquidity and high prices.
This specific contract has got the same structure of a rental contract but with additional clauses regarding the option of purchase:
- Premium for the option of purchase
- Price of the purchase
- Deadline to exercise the option of purchase.
- Transmission free of rental charges
- Specific date for the purchase signing
- Costs and taxes
Apart form that new strategies have arisen to face the drop in the market.Some Banks are trying to get a solution to get rid of their stocks from repossession:Caja Madrid has reached an agreement with the Goverment to rent part of their stock through the SPA (Sociedad Púbica de Alquiler)=(Rental Public Society).
Maybe we can inspire new legal options for the future.
We should appeal to the "Goverments imagination".It is time to change the mentality.
MEMBER OF COSTALUZ LAWYERS