Many of our clients are finding it increasingly difficult to finalise the financial details for their Dubai property purchase in time to meet deadlines, a situation that has been exacerbated by the current economic climate, where credit has become much harder to obtain without conforming to stringent guidelines.
You can take the pressure out of the situation by opting to Rent to Own Dubai real estate. This scheme enables you to take some time out to consolidate your finances and to wait for the market to settle down. We have conducted the Buyers Guide and Buyers Process for Rent to Own to help you understand the fantastic opportunity this presents which can be viewed to the right of this page. Once you’ve read and understood how simple the process is, you can begin your search for a rent to own property.
If you have a freehold property for sale, this can be your opportunity either to make a return on investment (ROI) during the Rent to Own period, and/or to secure a buyer in a stress free fashion. We have created a Sellers Guide and Sellers Process for Rent to Own which explains the benefits to you which we’re sure you’ll agree hence why you can also register your property for Rent to Own directly on-line with your required documents.
Smith & Ken will broker an arrangement between the buyer and seller of the property, which typically would ensure that:
The sale price of the unit is agreed at the commencement of the Rent to Own contract A Rent to Own period (typically 24 months) would be agreed The buyer would pay a deposit equal to ten per cent of the agreed sale price, which would secure first option to buy the property during the Rent to Own period The buyer and seller would agree a monthly payment plan which is the equivalent of the current market prices for rentals in the area the property is located At any time during the Rent to Own period, the buyer would have the option to purchase the property at the agreed price, with the amount already paid in rent deducted from the price The balance of the agreement would be settled, either at the end of the Rent to Own period, or earlier, when the buyer’s mortgage is approved or if the buyer chooses to pay in full by cash
Our portfolio of Lease to Own and Rent to Own properties in Dubai is among the most comprehensive in the United Arab Emirates (UAE), including apartments, town houses, luxury villas and office and commercial space. These are situated in many of the most outstanding areas in Dubai, such as Arabian Ranches, The Greens, The Springs, The Meadows, The Lakes, The Views, Dubai Marina (close to Jumeirah Beach Hotel), Burj Dubai and Palm Jumeirah.
Our Rent to Own scheme gives you the opportunity to live in your prospective home on a rental basis, whilst making the decision whether to buy or not. It also allows you valuable extra time to arrange a mortgage during the rental period. If you decide to buy, you can think of your rental payments as an investment. If not, you have merely occupied the property for the period of the lease at the going rental price.
To find out more about how the flexibility of Rent to Own can take the sting out of your real estate sale or purchase, please call us on our customer service helpdesk on +971 4 439 4300
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