Property sale contract and property lease-purchase contract
2021 is a year in which home buyers and sellers are on the lookout for real estate transactions due to the strong price fluctuation with respect to the sale prices of previous years and the uncertainty created by the COVID pandemic -19, which is why, more than ever, the economic operations involved in sales contracts or rental contracts with the option to buy are studied. From Grupo Mar de Casas we teach you the keys to distinguish them.
Purchase contract vs. property lease-purchase contract
When buying a house or selling a property it is very important to know these two options, very different but with a common purpose. Thus, a contract for the sale of a house is, simply, the exchange of the home in exchange for a stipulated price based on different factors such as its cadastral value, its location, its characteristics, its attached properties … through a binding contract between buyer and seller. Meanwhile, the rental contract with the option to purchase in which two specific contracts are established: the first of them is the lease contract in which the tenant can make use of the house while it lasts and a second contract, the contract option to purchase in which the tenant can purchase the home at a stipulated price.Despite the clear differences that are inferred from these two definitions, any of these forms of a home sale contract is useful, we simply have to analyze the economic and personal situation of each of the parties involved in the process that will lead us to opt for one or the other, that is, we must have money saved, we must obtain the granting of the mortgage with the bank that guarantees and supports us in the sale and we must run the risk of economic fluctuations in the labor market. On the other hand, in the cases of the rental contract with the option to buy, we find the current enjoyment of the home so that in the future, with greater stability at all levels, to be able to buy it.
Continuing with the differences between the two, we must clarify that the sale contract has a fixed price fixed in advance, while the rental contract with the option to purchase the rent and a premium are paid to maintain said future purchase option. In this way, among the seller’s obligations in the case of rental contracts with the option to buy is not to sell the home within the term that this option to purchase lasts, keeping the house in optimal habitability conditions, owing the future buyer to face the monthly payments as well as his premium, which will be deducted from the total price of the future sale, and keep the house in good condition.
Grupo Mar de Casas: we help you formalize the property sale contract and property lease-purchase contract
At Grupo Mar de Casas we have real estate agents who are experts in the formalization of contracts of sale or rental contracts with the option to purchase, do you sign up to live the story of your life with us? We will wait for you!
