fausta

Exclusive proposal to buy an apartment with no down payment 


We offer to buy newly built apartments in „Fausta“ residential district at the addresses Medvalakio 12,12A, Palanga, with no down payment! 
 
Rent to own - is a possibility to buy an apartment even if you do not have the down payment.
A buyer is offered to choose an apartment and rent it for 12-18 moths. During the rental period, the renter pays rent, with the rent credited toward a down payment (total 15 % purchase price) when the contract ends.

 

Rental period – 12-18 months. During this period a required down payment would be paid and there would not be any problems to get a mortgage loan.

 

 

 

Steps:

  • Client chooses an apartment.
  • Client and seller discuss specifications of total apartment finishing and final purchase price.  
  • Client and seller enter into a lease agreement with an option to buy the property. Rental period – 12-18 months.
  • Seller transfers a totally finished apartment to the client.
  • Client pays a monthly rent of apartments and covers amortization costs (10 % of monthly rent).  
  • During the rental period client covers 15 % of apartment purchase price.
  • Rental payments (excluding amortization costs) count toward a down payment for the apartment. 
  • Client borrows the remaining amount from the bank and purchases the apartment.  

     

Example: Client chooses a fully finished apartment with the price of 60.000,00 €. 

             A down payment of 15 % (9000,00 €) is required in order to get a mortgage loan.
             Rental period 18 months. 
             Monthly rent 500,00 €.
             Monthly amortization costs 50,00 €.
             In 18 months client covers 15 % of apartment purchase price 18*500 € = 9000,00 €, gets a mortgage loan and purchases the apartment.

At the end of rental contract the client has an option not to purchase the apartment and give it back to the seller.

Contacts:
Phone.:  +370 655 65300, +370 46 311701
e-mail: fausta@kleta.lt