ABCs Of Building Insurance Valuation

To overcome this problem, a leasing company is often involved in the operation, which, after having purchased the property from the seller, then accepts to grant it as a financial lease to the interested party.

In the other states it is possible to buy a house without a mortgage. In many jurisdictions the sale with retention of title is foreseen. In the real estate sector it is particularly widespread in the United States where the purchase of a house without a mortgage is called land contract or contract for deed. This is a strongly growing contractual form due to the recent mortgage crisis.

With respect to the contract with retention of title, the sale with condition of termination already involves the transfer of the property when signing the sales contract. However, the deed contains a clause which establishes that, if one or more installments are not paid, the contract is automatically terminated and the ownership of the asset returns to the seller. In this way the latter, although it has transferred the asset, can always return to possession and regain ownership of it, protecting itself in the event of default.

The last way to buy a house without a mortgage is rent to buy. It is a sort of rental contract with redemption. This formula (introduced by Decree Law 133/2014) provides for the sale of the property by granting the prospective buyer a rental period and reserving the right to definitively purchase the property within a period (up to 10 years), at a fixed price, which will be subtracted a share of the money already paid with monthly fees.

Although little used, it can be useful as a bridge formula waiting for the buyer to complete the loan request. The advantage for those who sell is to widen the audience of the interested parties, the risk is to face situations of default. The Building Insurance Valuation network contains a detailed contractual scheme prepared by the notary of Building Insurance Valuation.

Even if you don’t have a lot of liquidity and you can’t get a mortgage on, buying a home is possible. From real estate leasing to rent to buy to sale with retention of ownership, here are all the possibilities.

You’d really like to buy a house, but you don’t have much cash on hand and getting a mortgage turned out to be an uphill struggle. To what has not happened, in a phase of tightening by the banks in the granting of loans and work in the name of precariousness, to have to deal with this problem, perhaps thinking of having to give up the dream of buying a house?