Selling by instalments

Post reply   Start new thread
:: New - Old :: Old - New

Pages: 1 |

Forum home :: Latest threads :: Search forums
The Comments
26 Mar 2018 20:16 by lochiel Star rating. 5 posts Send private message

We have been trying to sell a property in Spain for some time and have been approached with offers to buy in instalments. Is this a common prectice and has anyone got any advice? 





Like 0      
26 Mar 2018 21:09 by Kavanagh Star rating in Oil Drum Lane Newcas.... 902 posts Send private message

Kavanagh´s avatar

Hello lochiel and welcome to eye on Spain.

This is common practice in Spain. You should immediately have the property transferred into the installers name, provided you know their name. This would ensure you do not become liable for any unpaid debts.



_______________________
There is enough in the world for everyone, but not enough for the greedy!



Like 0      
27 Mar 2018 09:37 by baz1946 Star rating. 2163 posts Send private message

Do you mean you put your house on the market for X amount of Euro's and folk viewed it, then offered to buy your house and pay for it, say monthly or weekly directly to you. (Not 100% sure of what you say) ....Never heard of this being done this way in Spain.

You might be desperate to sell along with thousands of others, but do you honestly believe this is the way forwards to sell your house.

If you did do it this way I have no doubt you would get one months payments, perhaps a few more, then what would you do if the buyers stopped paying you, try to explain to a court that you gave them a house on the promise they would pay you back, hells bells some people wont even pay a car loan back of a few thousand Euros or Pounds.

Whats in it for you? The promise that you get to sell your house, paid back over a long term maybe,  for the buyer it sounds like an interest free house loan because they have been refused loans everywhere else.

Please don't come back with every check of the buyers back ground  and past records will be done, sorry that don't work.

I hope you're not one of these one shot posters with better then daft questions that come on here and go just as quick, and my advice is if you did sell your house this way you deserve everything you might get from the worst way I can think of selling anything.

 





Like 0      
27 Mar 2018 10:48 by windtalker Star rating. 1646 posts Send private message

This has got to be the craziest thing yet ...you can just imaging the legal the legal battle  to get your property back ..if the so called buyer defaulted on the payments.





Like 0      
27 Mar 2018 11:19 by Mickyfinn Star rating in Spain and France. 1839 posts Send private message

Normally this is done as a rent to buy. The 'tenant' agrees to a payment plan set up by a notary with a contract. It usually involves much higher payments than normal rent and a capital sum at the end of the term when the transfer is then made.

Much like car contract rental. If the 'tenant' doesn't pay normal eviction or possession process takes place. Make sure utilities get transferred at the start or you may become liable for any outstanding debt. 



_______________________
Time is the school in which we learn Time is the fire in which we burn. Delmore Schwartz.



Like 0      
27 Mar 2018 11:41 by briando55 Star rating in Yorkshire. 2004 posts Send private message

I’m sure a notary or lawyer would be able to draw a contract up that states the conditions of purchasing and payment, and ownership and tenancy.

but the rub is, people don’t behave like the paperwork tells them to and consider the options when payment is not made and a tenant has to be evicted, consider the options of dilapidation of the property, fire, abuse etc.

the property laws in Spain can be quite challenging!    This method would challenge every bone in your body I reckon.

 



_______________________

Best wishes, Brian

 




Like 0      
27 Mar 2018 11:41 by baz1946 Star rating. 2163 posts Send private message

What is the 'Normal' eviction process in Spain because from the very little I have read on here getting someone out of your own house in Spain is next to impossible, hard enough in the UK and thats knowing the system?





Like 0      
27 Mar 2018 12:58 by Kavanagh Star rating in Oil Drum Lane Newcas.... 902 posts Send private message

Kavanagh´s avatar

You would just need Laurence from  ‘’Can't Pay? We'll Take It Away!’’



_______________________
There is enough in the world for everyone, but not enough for the greedy!



Like 0      
27 Mar 2018 13:28 by lochiel Star rating. 5 posts Send private message

Thanks for comments and advice. I just wondered if anyone had experience of this system. I can appreciate all the pitfalls and would look on it as a last resort. 





Like 0      
27 Mar 2018 13:55 by Mickyfinn Star rating in Spain and France. 1839 posts Send private message

www.spanishpropertyinsight.com/legal/let-to-buy-in-spain-the-smart-choice/

https://www.renttobuyspain.com/



_______________________
Time is the school in which we learn Time is the fire in which we burn. Delmore Schwartz.



Like 0      
27 Mar 2018 17:26 by briando55 Star rating in Yorkshire. 2004 posts Send private message

Whats the address of the property etc.  You never know someone on here may fancy it!



_______________________

Best wishes, Brian

 




Like 0      
27 Mar 2018 18:04 by lochiel Star rating. 5 posts Send private message

It is advertised on this website. It is at Paniramica Golf and  Country Club near Vinaros. A very good price!





Like 0      
27 Mar 2018 18:53 by Roberto Star rating in Torremolinos. 4481 posts Send private message

Roberto´s avatar

My good friend Tony down the pub might be interested. I'll provide the references. 

laugh



_______________________

 

"First get your facts; then you can distort them at your leisure"

Mark Twain

 

 

 




Like 0      
27 Mar 2018 18:58 by lochiel Star rating. 5 posts Send private message

That would be great thanks😀





Like 0      
27 Mar 2018 18:59 by lochiel Star rating. 5 posts Send private message

That would be great thanks😀





Like 0      

Pages: 1 |

Post reply    Start new thread


Previous Threads

Advice on Buying a property - 6 posts
Dog Friendly Accommodation - 5 posts
Just received an embargo on a house – looking for advice please - 14 posts
EU Succession Regulation 650/2012 - 3 posts
Planning to move to Ibiza to dj - 1 posts
Boat Trips - 4 posts
Moving my business to Ibiza, whats your thoughts? - 4 posts
Importing Car - 0 posts
Weather gripe - 32 posts
Incorrect Direct Debits - 3 posts
Easter Parades Torrevieja - 0 posts
I won my first instance case against banks - 3 posts
9 cases won so far in 2018 by CostaluzLawyers - 13 posts
Decaration of assets abroad- end of term 31st March - 43 posts
Car Insurance - 3 posts
Wills - 3 posts
Great new classical choir in Vera (Almeria) - 0 posts
Public schools - 3 posts
SELLING PROPERTY - 8 posts
registration for rentals - 1 posts
good rental agents aguilas area -costa calida - 0 posts
Capital gains tax - 2 posts
La Caixa refusing to pay out on life insurance. - 44 posts
Anything happening at Nueva Ribera? - 1 posts
vera playa almeria - 13 posts

Number of posts in this thread: 15

DISCLAIMER:  All opinions posted on these message boards are the opinion solely of the poster and do not necessarily reflect the opinion of Eye on Spain, its servants or agents.


1 |
Our Weekly Email Digest
Name:  
Email:
   


This site uses cookies. By continuing to browse you are agreeing to our use of cookies. More information here. x