Rent to Buy or Vendor Terms Homes Safe or Just a Misunderstood Opportunity
In Australia, they have this Vendor Finance Association of Australia who takes care of all these. They provide you with trained and qualified expert who assures you that you are dealing with the right person and morals and ethics would be taken care of throughout the deal.
by sanjay cosmossalesforce Saturday, April 30, 2011
What sort of property are you looking for? Is the dealer free from fraud? Are you making the right decision? Is it worth paying so much? Lot of questions strikes your mind.
In Australia, they have this Vendor Finance Association of Australia who takes care of all these. They provide you with trained and qualified expert who assures you that you are dealing with the right person and morals and ethics would be taken care of throughout the deal. These VFA members are not financial agents or real estate agents. They are simply members qualified to work with the owner of the property being sold.
You can be assured that these VFA members would work for your needs and help you to come to terms in negotiation to purchase your house with a low deposit and no bank loan. In other words, these VFAs help to realize your dreams. In any case, the realty world hates these VFAs as they curb their huge commissions and one can even save the large sum of bank interest.
This isn’t a new concept. Infact, around 30 years back, properties were sold through lawyers and not the real estate agents. The buyer would enter the property, based on the contract and trust, beginning to pay down the existing mortgage, with mutual consent of the owner under a contract. An agreed amount of rent would be agreed upon, based on the market value, which may not necessarily cover the bank interest rates.
The down payments on the property are covered under a contract known as “ option to purchase”. The other payments on the property are also covered under the same documents. The buyer comes under the lease tenancy agreement and meanwhile commences the payments towards the asked price of the property and gets over with it within 5 years.
Some of these VFA members allocate rent credits that the tenants can qualify for, provided they don’t default in the time period, which goes towards reducing the amount on the final payment.All the documents should be covered and agreed upon with a lawyer who’s aware of the Vendor Terms Contract. One has to be sure that the deal is with a VFA member in the same state and free from bad publicity.
Bio:Cosmossalesforce is well known author who has written article on residential flats gurgaon, and also give detail information in Investment on Property in Delhi NCR.
About Cosmos Sales Force Cosmos Sales Force is a unique Indian -headquarted company, leading the industry in the provision of customer communication solutions. Through the strategic use of different communication mediums,including voice and non-voice
Read More Press Releases
Wiwigo Technologies: First of its kind selfie campaign takes place in moving Delhi-Chandigarh Shatabdi
Get press releases by email