Rentobuy

Rent to Buy Contract Guideline

Parties involved:

  • Seller: John, owner of the property
  • Buyer: Jane, interested in the purchase.

1. Right of Purchase

  • Jane has the right to purchase the property within a set date.
  • Sums already paid to the notary will be deducted from the sales price or counted as a down payment for bank financing if she decides to buy.
  • In case of non-purchase, the paid sums will be entirely released to the owner as a penalty.

2. Duration of the Right

  • The right is valid until the agreed date (e.g., December 31, 2025).
  • Extensions are possible only with a new agreement between the parties.

3. Price and Payments

  • Fixed total price.
  • Payments:
    • Initial down payment if desired
    • Monthly fee as rent (of which % deducted from the price in case of purchase).
  • If Jane does not purchase, all payments remain with John.

4. Rules for Purchase

  • Jane must:
    • Send a communication to the notary.
    • Receive financing / Pay the price balance.
    • Officially become owner.

Other conditions:

  • Rent: Obligation of regular payment to use the property.
  • Property State: Guaranteed in good condition and without legal problems.
  • Insurance and controls: Charged to Jane after purchase.

Contract Outcome:

  • If Jane purchases: Becomes owner, and payments already made are deducted from the price.
  • If Jane does not purchase: Loses the money paid into the notary's client account and must leave the property.

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